Lender Response Materials
From time to time we get lenders or lender's counsel questioning WFG's acceptability for a particular transaction Depending on the nature of the questions, below are sample letters I have used (each of these was updated through 4/2020).
When discussing WFG's capacity, here are some of the talking points I use. These are also suitable for cut and paste into e-mails, but probably should not be sent out AS IS.
We sometimes get requests for a copy of our Lloyd's reinsurance or the form of reinsurance coverage we obtain for amounts over $20M. In order to get the best pricing, we team up with a number of smaller title insurance companies and jointly purchase our reinsurance. You will see that these contracts run to a group of insurers. That doesn't limit the individual coverages.
General about the company:
Many states set a "single risk limit" (the maximum amount of any single policy) based on differing formulae that take into account a company's surplus, reserves, statutory premium reserves, and other factors. In all states you are allowed to exceed the single risk limit with acceptable reinsurance. Once in a while, someone asks for that information, which we update every year when the Year End Form 9s are released.
If you find other questions we need to address for our lenders, please add them here.