LBPS, Seterus, QBE, IBM-LBPS

[CIScommercial]

Wonder if any one else here has had severe issues with certificates of insurance demanded by any of the above entities which are the same they just change names.
The companies are hybrids of BofA and are supposed to be loan servicing companies. We are recording all the calls and emails from these people due to some bizarre and fraudulent practices such as losing certs that have been sent to them by us, calling using different names and attempting to get through deceptive practices such as " I am a friend of his children", forcing insurance on a borrower though a master policy is in full force and they have a loss payee cert already, transferring the loan to another subsidiary listed above and demanding a new cert, ( in 4 cases recently they demanded flood insurance be placed on a homeowners association that is NOT any where close to a flood plain and demanded a cert showing them as a loss payee for Flood ). In this case the QBE employee told the homeowner that the agent ( us ) had cancelled the master policy 2 times and that is why they forced insurance on them, which was a blatant lie since that client never even had a cancel notice or any issues for the entire time we had and still have the account.

We have clocked and recorded in several cases 31 faxes, confirmed received by them and they still claim they do not have them forcing our staff to be working constantly to service them and they are not even a client let alone they refuse to pay for their demands of the services they demand from us and many other agents.

In another case, a different loan agency not listed above, altered the PDF form cert we had provided, and inserted above our signature language indicating HO6 coverage was in place when in fact no such coverage was available and the CC&R's specifically did not allow it through the master policy, and the loan agent did this to help a friend avoid obtain proper coverage not afforded by the master policy of the HOA.
We have a very competent company prep the certs , EOI Direct and the above companies do not even call the get the free service offered in the renewal but instead force our staff to do the work and do it many times over. In one day alone we received 8 calls on one and same cert demanding issuance for a policy we did not even write. Was not our account.
If any of you here have had similar issues with any of the loan servicing companies listed above or other ones please let me know. We do have a few consumer agencies working on this issue in order to protect the borrowers from incurring extra costs since these companies force insurance through their own agency at horrific prices which in most cases are 10 to 20 times higher than what the homeowner would get on their own.

Much appreciate the input from any of you here. Please keep track of any communication going back and forth with these entities as it has the potential according to our corporate attorney, to incur some substantial E&O problems as a result of their actions or lack thereof.

[Brenda H]

While I have not had this problem with them for any commercial policies, I do constantly have issues with them on personal lines policies. I have one client in particular, that I must sent multiple copies of EPI's to verify coverage, even though they are sent at the beginning of each policy term. All list the property address and loan number. Then, I get phone calls wanting to verify that coverage is in place. After that, the insured gets several letters from them stating that they do not have insurance documents, and they will get forced placed insurance etc.

[CIScommercial]

Good morning and Happy New Year. Thanks for the reply and input. We have several run ins with them daily due to the amount of Homeowner Associations we insure.
I figured someone else may have similar problem. Our attorney is looking at all options due to the heavy workload and time it takes to respond to their ( LBPS ) every single call and fax.
Thank you again,
Regards,
Perry