CLEVELAND, Jan. 8, 2018 /PRNewswire/ -- LP Insurance Services, LLC has agreed to acquire the assets of Loan Protector Insurance Services, a division of Willis Towers Watson. Based in Cleveland, Ohio, Loan Protector is a leading provider of customizable insurance tracking programs and lender placed insurance products to the mortgage industry for the past 40 years. The transaction is expected to close January 31, 2018.
Following the transaction, Dennis Swit will now serve as CEO and the company will continue to operate under the Loan Protector brand. Swit joined the organization in 1998 and previously served as CEO and managing partner. During his tenure, he helped take the once privately held company to a division of a publicly traded S&P 500 firm. "The one thing that has always remained consistent about Loan Protector is our unwavering dedication to providing customized programs for our clients and a quality customer service experience to their borrowers. Our dedicated team of compliance and risk management professionals monitor and adapt our services as regulations change, which enables us to protect our clients from financial, reputational and security risks," said Swit. "The outstanding programs and services we provide will only continue."
Celebrating its 40th anniversary this year, the company intends to continue operating and servicing national and regional clients from its headquarters in Cleveland once the transaction is finalized. Swit has no plans to change the company's name since there's so much brand equity built into it. It will be business as usual for the company that has an excellent reputation in the lender placed insurance and insurance tracking industry.
Another driving factor behind Swit's decision to purchase the company was his colleagues and the greater team. Employing over 150, Swit is well-positioned to operate and invest as an independent unit and is planning to add new customer-centric technology and adding more employee-centric benefits.
Headquartered in Cleveland, Loan Protector provides customized, lender-placed insurance and tracking solutions that protect mortgage servicers from risk. By bringing together high-level technology, expertise and unmatched customer service, the company safeguards client interests better than anyone else. Loan Protector. Safe. Sound. Learn more: loanprotector.com.
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SOURCE Loan Protector