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Posts Tagged ‘insurance claims’

Hands-On Training for Manufactured Home Claims Adjusters

April 11th, 2014 Comments off

Insurance claims adjusters need to understand that handling manufactured home claims are different than claims for other structures, something that novice claims adjusters do not always understand. According to claimsjournal.com, hands-on training is very effective as a teaching tool, leading adjusters to make better-informed decisions. Training includes flooding a manufactured home and then having students determine what is involved in repairing or replacing different types of damage. Learning how a structure is assembled results in a quicker and more accurate response to a claim, as MHProNews knows. ##

(Photo credit: Jeremy Schwartz/peninsuladailynews.com–manufactured home being repaired)

Long Strides in Short Sales

September 14th, 2012 Comments off

nationalmortgagenews says, according to a new government report, servicers that work on delinquent FHA (Federal Housing Administration)-insured mortgages are shoring up the agency’s losses on insurance claims because they are becoming more adept at dealing with short sales. The FHA says its servicers completed 27,150 short sales for the first three quarters of fiscal year 2012 ending June 30, a 65 percent spike from the same period last year. The loss rate on the sale of foreclosed properties or REOs (real estate owned) is 71 percent versus 47 percent on short sales. FHA completed 75,550 REO sales in the first three fiscal quarters of 2012, an increase of 11 percent over the same period last year. MHProNews has learned the year-to-date net loss rate declined by 1.5 percent from last quarter due to the increase in short sales.

(Image credit: Washington Post/istock)