WNC’s REOSelect™ provides immediate protection of your Real Estate Owned (REO) properties with the flexibility of choosing the coverages, limits, and deductible you prefer.
Flexibility in Three Quick Steps
Step 1: Discuss your REO insurance requirements with your WNC representative and fill out a simple REOSelect™ application indicating the coverages, limits, and deductible you want. Send it to us with a profile of your REO portfolio that provides the total number of REO properties, distribution by state, and total outstanding loan balance.
Step 2: Receive your custom REOSelect™ rate proposal based on your portfolio and the coverages, limits, and deductible you selected.
Step 3: Review our proposal and if you accept, we will issue your REOSelect™ Master Policy so you can start ordering coverage through an easy-to-use reporting form.
Benefits and Options
With REOSelect™, you report properties for coverage and pay premiums monthly. In other words, you only pay premiums for the months that you need coverage.
REOSelect™ is backed by the world’s largest insurance market — rated “A” or better by Fitch, Standard and Poor’s and A.M Best Co., the premier insurance rating agency.
In addition to unmatched flexibility, REOSelect™ gives you more benefits and options:
- Wide Eligibility — accepts all types of residential and commercial properties including mobile and manufactured homes
- All-risk coverage with limits available up to $5M per location at competitive rates
- Replacement Cost claim settlement — no depreciation adjustments for residential and commercial buildings
- Includes Wind coverage — even in coastal areas and for named storms
- Optional Flood coverage:
- $25,000 per property [Participating communities, outside and/or inside Special Flood Hazard Areas (SFHA)] with $2M annual aggregate;
- $250,000 per residential and $500,000 per commercial property; or
- $1M per property location
- Deductible options from $1,000 up to $100,000 (special Wind deductibles apply)
- Optional Coverages:
- Earthquake (except AK and CA)
- General Liability
- Vacant Land Liability
- Independent Contractor Liability
- Business Contents for commercial buildings
If you have questions or would like to get your REOSelect™ proposal, please call your WNC representative or our offices at 800-423-2497 ext. 6335.