Dimont & Associates Enhances Sales & Client Relations Teams
April 27, 2012
April 26, 2012 – San Diego, CA – Dimont & Associates, a leader in hazard insurance and mortgage insurance claims recovery services, announced the addition of industry veterans, Rick Lewellen and Jason O’Donnell, to its Sales & Client Relations teams. Rick will be responsible for continuing Dimont’s rapid sales growth and Jason will manage specific client portfolios, ensuring that clients receive individual attention and a customized approach to meet their needs.
“We strive to provide our clients with the best possible services and take pride in our ability to customize approaches to exceed client standards for quality, value, timeliness, and compliance,” said Bernie Dimont, CEO of Dimont & Associates. “The financial services industry is under a magnifying glass right now. As a vendor, it is our responsibility to have expert sales & client management professionals constantly assuring appropriate due diligence is administered in the interest of our clients.”
Rick Lewellen joins Dimont & Associates with 25 years of industry experience, holding executive positions in Operations, Sales, Marketing and Strategy at GMAC, Goldman Sachs and CIT Group. Rick’s professional background and extensive knowledge of the default services industry has already made him an invaluable member of the Sales team.
Jason O’Donnell also brings to Dimont a wealth of talent and more than 15 years of experience in Default Management. Before joining Dimont & Associates, Jason held several executive-level Operational, Relationship and Compliance roles with companies such as Chase, Lender Processing Services, U.S. Bank and Mellon Mortgage. Rick and Jason are based out of Dimont’s Operations Center in Dallas, TX.
About Dimont & Associates
Founded in 1996, Dimont & Associates leads the industry in providing best-in-class Residential and Commercial hazard claim and mortgage insurance claim recovery services, offered to mortgage servicers, investors and government sponsored entities (GSEs). Dimont & Associates is headquartered in San Diego, CA with its primary Operations Center located in Dallas, TX. For more information, call 619.768.4161 or go to www.DimontandAssociates.com.
Dimont & Associates Supports Scholarship for Women in Business
March 28, 2012
In economically challenging times, it is important for companies to be aware of social issues, and even more importantly, to operate with a high level of social responsibility in order to create a positive impact and support economic growth.
Dimont & Associates recognizes the importance of education in all areas of life, especially in the business world, and that our progress is greatly dependent on those who strive for continued knowledge and education. Our value and commitment to personal and educational development drove us to support the Dorthy B. Brothers Executive Scholarship Program, an innovative foundation that empowers businesswomen to continue striving for success through entrepreneurial development.
The Dorthy B. Brothers Executive Scholarship Program gives 14 women, who are business owners, $11,000 worth of tuition to further their education. Women who are awarded the scholarship are encouraged to take executive education programs at a variety of schools and programs that are WBENC approved.
Over the decades, there has been a remarkable improvement not only in women entering the world of business, but also in women becoming successful leaders in the corporate world. Thanks to Dorothy B. Brothers, the bar has been set high for women across the nation, and her legacy in the business world will continue to live on by providing other women with opportunities to succeed.
For more information about the scholarship, please visit
www.wbenc.org/opportunities/dorothy-b.-brothers-executive-scholarship-program/
Looking Out For Our Client’s Interests
March 8, 2012
A Story of Dimont’s Persistence to Successfully Get Claims Paid
By Troy Speed, Senior Manager of Claims Operations at Dimont & Associates
At Dimont and Associates, our corporate culture emphasizes going the distance in every way when it comes to representing our clients to insurance carriers.
We are frequently challenged by retail carriers on what is insurable, who is insurable and when coverage applies. Our efforts regarding the majority of our claims require the most time and energy on coverage issues, less so on how much a claim is worth. We are often challenged by insurers and must rebut coverage defenses and their selective interpretation of policy language. Much of our time is spent educating carrier adjusters on the claim types we specialize in. The type of claim we handle is unique, thus we must be willing to go the long and hard route to get claims resolved for our clients. The following is just one example.
At Dimont, we regularly hold meetings to discuss trends and topics in the industry. In the early spring of 2011, we identified a string of claim files dealing with a major retail carrier in South Carolina. Our associates, as per regular guidelines, began raising the issue in their weekly team meetings and our claims managers then called the carrier adjuster and their supervisor to discuss. With no success, the issue was escalated to senior claims management at Dimont who reviewed the issue with internal legal. Below is a summary of facts.
This carrier’s South Carolina office had denied several theft and vandalism and malicious mischief (VMM) claims presented by Dimont on behalf of the mortgagee on the basis that their contract was with the mortgagor/borrower, and that at the time of the loss, the mortgagor/borrower still held legal title to the property. Their contention was that they must have the permission from the mortgagor/borrower to accept the claim or otherwise face the possibility of the borrower objecting to any payment made which may affect the insurability or cost of the insurance for the borrower.
We rebutted with no initial success. We then hired a law firm to represent our interest and the client’s interest in order to research and prepare a stronger rebuttal argument to the carrier on all of the denials. The firm conducted research and prepared a rebuttal and demand citing multiple cases supporting a mortgagee’s independent claim against the carrier. These arguments, along with the cited cases, were presented to the carrier’s claims manager. The carrier acknowledged that they were getting resistance from other entities besides Dimont, but that our argument was the most compelling and they eventually reconsidered and allowed the claims to be reopened and handled on their own merits.
We presented five sample claims, all of which were successfully settled with recovery totaling just under $26,000.
In today’s world we are at the forefront in advocacy efforts for our clients. There is no claim too big or too small. There is no issue too simple or too complex. We tackle it all and we take pride in doing so. It is our job to make sure our clients receive everything they are entitled to and to overturn issues and set precedents where needed. That is what we are hired to do.
Dimont & Associates Celebrates 15th Anniversary
October 6, 2011
Mortgagee Claims Business Grew from Small Operation out of Garage
to Multiple Offices and Staff of 200+
October 6, 2011 – San Diego, CA – What started out as a small operation in an entrepreneur’s garage in San Diego has grown to become an industry leader with a staff of 200+ knowledgeable professionals in multiple states all working to maximize mortgagee claims recoveries for their clients.
Dimont & Associates was founded by attorney Bernie Dimont in 1996 when his servicing clients and resulting claims activity had grown so rapidly, he decided to close his law practice to focus entirely on building hazard claims solutions for those clients.
“Over the last 15 years, we have faced many challenges as an industry – hurricanes, earthquakes, tornados, fires, and many hurdles still to overcome in the financial markets,” said Bernie Dimont, CEO of Dimont & Associates. “This has solidified the relationships we have with our clients as we braved the obstacles together.”
Some noteworthy accomplishments over the past 15 years include development of claims tracking software (Eldorado), office expansions, and SAS 70 Type II certification, which confirms the reliability, security and integrity of Dimont & Associates’ infrastructure, processes and operations.
Another indication of Dimont’s success is the company’s expansion from initial Hazard Claims services to a full line of Mortgage Insurance claims processing services including FHA, USDA and VA Post Foreclosure claims services, Freddie Mac & Fannie Mae Reimbursement Claims, Loss Mitigation Claims, and Supplemental Claims. Dimont also has expertise in FHA, Commercial and Multifamily Hazard Claims services and offers Claim Reviews to determine lost opportunities for clients.
Whether responding to disasters, acquisitions and mergers, or sharp rises in the default portfolio – Dimont & Associates is committed to the timely and efficient filing of claims with a strong focus on the recovery of the most money possible while maintaining strict compliance with all state regulations and insurer standards.
“At Dimont, we maintain over 1,400 licenses nationwide,” said Rick Hart,
About Dimont & Associates
Founded in 1996, Dimont & Associates leads the industry in providing best-in-class Residential and Commercial mortgagee claims management services to servicers, investors and government sponsored entities (GSEs). Dimont & Associates is headquartered in San Diego, CA with additional offices in Dallas, TX and Palm City, FL. For more information, call 619.768.4161 or visit our website www.DimontandAssociates.com.
Dimont & Associates Announces Expanded Services
August 31, 2011
Comprehensive Mortgage Insurance Claims Processing and Servicing
Compliance Review and Training added to its Service Offering
August 24, 2011 – San Diego, CA – Dimont & Associates, an industry leader in claims services since 1996, announced today an expansion of its services. Dimont now offers a full line of Mortgage Insurance claims processing services, as well as Servicing Compliance Reviews and Training. Dimont has long been recognized for its best-in-class Hazard Claim Recovery services.
Expanded services include processing for FHA, USDA & VA Mortgage Insurance Claims, Loss Mitigation Claims, PMI Claims; FNMA & FMCC Reimbursement Claims, and Supplemental Claims.
Heidi Schranz will lead this expansion in services and supervise all private and government mortgage insurance claims filing for Dimont. Heidi was formerly the Project Director for HUD Single Family Post Claims Reviews. Her extensive knowledge and experience includes claims processing, quality assurance, and insurer audits. Under Heidi’s leadership of the Mortgage Insurance Claims Team, Dimont is providing industry partners with a wide range of detailed services related to all mortgage product types, including loss mitigation options and Home Equity Conversion Mortgages.
“Our clients trust that we will recover the highest possible settlements for them while maintaining a strict focus on compliance,” said Bernie Dimont, CEO of Dimont & Associates. “The expansion of our services to include Mortgage Insurance Claims processing addresses the full spectrum of client needs and allows us a broader venue to maximize insurance recoveries for our clients.”
Dimont has also joined with GWN Consulting, LLC (GWN) to provide Third Party Quality Assurance, Compliance Review and Training services for clients. GWN has an experienced team with specialized experience in servicing, loss mitigation and claims processing, and are industry experts in quality control, loss analyses, and compliance standards and practices.
“In this economy, servicers are finding themselves under a microscope,” said Joe McCloskey, Director of Business Development at Dimont & Associates. “By teaming up with GWN Consulting, we will leverage our combined expertise to help our clients insure their mortgage operations are fully compliant and within established guidelines.”
Dimont’s Compliance Reviews address General and Defaulted Loan Servicing, Mortgage Insurance Claims Processing, Hazard Insurance Claims Recoveries, and Damage Assessment & Repair Policy. Dimont also provides training, quality control and on-call expertise in all of these areas.
To learn more about these expanded services, visit our website at www.DimontandAssociates.com or contact Scott Hornick, VP – National Sales Director, at 619-971-8133 or Joe McCloskey, Director of Business Development, at 619-768-4161.
About Dimont & Associates
Founded in 1996, Dimont & Associates leads the industry in providing best-in-class Residential and Commercial mortgagee claims management services to servicers, investors and government sponsored entities (GSEs). Dimont & Associates is headquartered in San Diego, CA with additional offices in Dallas, TX and Palm City, FL. For more information, call 619.971.8133 or visit our website at www.DimontandAssociates.com.
About GWN Consulting, LLC
GWN Consulting is a small, woman-owned business headquartered in Northern Virginia that provides risk analysis and quality control consulting services to enhance client operations and improve communities. Their team of nationally recognized experts has extensive experience in risk management, quality control and program compliance. For more information, go to www.GWNConsulting.com.
State Your Claim! Detecting, Documenting and Writing Claimable Reports – Part 2
December 9, 2010
State Your Claim! Detecting, Documenting and Writing Claimable Reports – Part 2
A picture is worth a thousand words, right? So now that you know what to look for, it’s time to start shooting—your camera that is! Start by snapping photos of any and all suspicious activity, such as water damage on a ceiling or cracks in a wall. You should begin by shooting the home’s exterior, leading into its interior. And when in doubt, take the shot anyway. Because it’s always better to have too much than not enough. Click. Click. Click!
Make your photos even better by adding an adhesive arrow to the property that appears to be damaged. So, when you see that crack on the wall, stick an adhesive arrow on the wall pointing towards the damage and shoot. Same thing goes for that missing cooktop or cabinet hardware—just stick it and click it—and you’re good to go.
Say This, Not That: Words to Use to Get That Claim Approved
Providing servicers with an accurate, detailed, claimable report is your number one goal. To best accomplish that, you’ll need to step inside the mind of an insurance adjuster. And that means learning to speak “claimable” language. The insurance industry recognizes some words and phrases over others. So, start speaking their language by using detail-driven adjectives and phrases that leave room for interpretation. For example, instead of stating your opinion about how certain damages occurred as in, “the carpet was ruined in the living room due to cigarette burns” just say, “carpet damage” or “carpet needs to be replaced.” By avoiding judgment on how the carpet came to be damaged, there’s a better chance that the file will be successfully claimed and its dollars recovered.
Insurance Industry Language to Use:
- Discolored
- Missing
- Damaged
- Broken
- Graffitied
- Vandalized
- Burglarized
Non-Descriptive, Terms of Judgment to Avoid:
- Neglected
- Undetermined
- Unknown
- General wear and tear
Closing the Case
Writing a more claimable report is easy when you know what to look for and the right insurance industry language to use. But no matter how good of a Claims Detective you may be, not all claims will be filed because not all perils are covered. But, by writing accurate and detailed reports with nonjudgmental language, you’ll be well on your way to stating (and staking!) your claim.
For more information on Detecting, Documenting and Writing Claimable Reports, check out this informative Dimont & Associates walk-through video.
State Your Claim! Detecting, Documenting and Writing Claimable Reports – Part 1
December 2, 2010
State Your Claim! Detecting, Documenting and Writing Claimable Reports – Part 1
Just how good of a Claims Detective are you? Before you jump on that next job, take a moment to review how to make your reports more claimable and your servicers more satisfied. Remember, no matter how good of a Claims Detective you may be, not all damages will be claimable. But by presenting your servicers with detailed, accurate and properly worded reports, you’ll increase their ability to successfully file a claim and recover more dollars.
- Fire or smoke damage
- Water or freeze damage and its source
- Wind or storm
- Vandalism or theft
- Accidental plumbing discharge or overflow
- Lightning or hail
- Explosion
- Falling objects
- Inadequate or faulty construction and remodeling
- General wear and tear
- Neglect
- Deferred maintenance or cosmetic repairs
- Damage by pets and insects
- Code upgrades with supporting text
- Structural defects or earth movements (unless covered by specialized policy)
- Seepage
- Flood (unless covered by a flood policy)
- Nuclear hazard
- Mechanical breakdown
- Hurricane
- Tornado
- Earthquake
- Flood
- Fire
- Boiler Explosion
For more information on Detecting, Documenting and Writing Claimable Reports, check out this informative Dimont & Associates walk-through video.
Dimont & Associates Supports Metro Dallas Homeless Alliance
November 29, 2010
Dimont & Associates Supports Metro Dallas Homeless Alliance (MDHA)
Dimont & Associates employees took steps to end chronic homelessness in Dallas by participating in the HELP THE HOMELESS WALKATHON & 5K on November 13th, 2010.
The WalkAThon & 5K raised funds to support the Metro Dallas Homeless Alliance (MDHA), operators of The Bridge: Dallas’ Way Back Home. People experiencing homelessness access opportunities at The Bridge, the area’s only centralized multi-service campus for care and housing. Click to learn more about the Metro Dallas Homeless Alliance (MDHA).
Check out Dimont & Associates on Facebook to see more pictures!
The 3 Ps of a Smart Mortgagee: Protect, Preserve, Prosper
October 19, 2010
The 3 Ps of a Smart Mortgagee: Protect, Preserve, Prosper
Luckily, mortgagee rights are no secret. In fact, you can—and should—read the fine print to find out exactly what your rights are. And that fine print is located in either a deed of trust or the mortgage deed. Because hey, knowledge is power and this knowledge will empower you to protect, preserve and prosper. And those are the 3 Ps of a smart mortgagee.
So, you’ve got a property that’s vacant and you’ve got full coverage. That’s good. But, that’s not all. To ensure you get the most accurate settlement possible in case you do file a claim, there are a few things to know now that can protect you—and your investment—tomorrow.
Protect: Don’t Let “Change of Risk” Put Your Settlement at Risk
A “change of risk” simply means that your property has undergone one of three major changes as determined by the insurance industry. Those changes include:
- Foreclosure Sale
- Vacancy
- Change in Structure
Now, this is important to you because if your property does go through one of these major changes you must notify your insurance company in writing, and note when the change took place. If you don’t and a major change does occur on your property, the insurance company may have the right to deny that claim. All it takes is a letter and a little foresight to keep your risk low and your property protected.
Preserve: Time Waits For No Man (And No Claim)
Tick tock goes the clock and the timeframe on your claim. Say you’ve got a property that’s been vacant for three years. And during that first year, there was a tornado that damaged the roof and caused a tree to fall on the fence. Now, if you live in Texas, where twisters are all-too-common, and you were to file that tornado claim today, you’re going to be denied. Why? Because the statute of limitations for property damage in Texas is just two years. That means you forfeit a potentially large settlement just because you waited too long to file the claim. Each state, including the District of Columbia, has a different law regarding its statute of limitations; and those statutes can range from 1 – 10 years. So don’t delay! Make the claim today.
Prosper: How to Settle a Claim Without The Wait
Sometimes, filing a claim with an insurance company can be slow going at best. But knowing some facts up front can speed along the process and get your settlement signed, sealed and delivered. Here are some things you can do along the way to quicken your settlement claim:
- Be available to receive calls and answer emails from your insurance provider
- Know the date of loss
- Know the date of discovery (when you realized the property had been damaged)
- Know exactly what your insurance policy covers
- Get backup (such as supporting documentation for your claim)
Knowing your mortgagee rights before a loss takes place is essential to keeping your property protected and receiving an accurate settlement when you do file a claim. And remember, it’s easy, just follow the 3 Ps of a smart mortgagee: protect, preserve and prosper.
Foreclosure Moratoriums and Vacant, Damaged Properties
October 12, 2010
There is a strong public and industry attitude, evident from many recent articles from both trade magazines and the general media coverage, that servicers are responsible for the foreclosure processing fiasco and need to be held accountable for it. The large number of pending foreclosures undoubtedly has put a strain on quality controls and the ability of servicers to consistently deliver accurate, up-to-date case status information. Examples of fraudulent document documentation are very distressing, but how common such occurrences have been will not be determined until internal reviews are completed.
Of even greater concern is a foreclosure moratorium, which could sweep across all servicers. The Federal Government has real concerns for the financial health of Fannie and Freddie, and they in turn have made it clear expenses due to foreclosure processing reviews will be borne by servicers. FHA Commissioner Donovan, who is a voice for the Administration in many mortgage industry matters, has said he is concerned that a moratorium would affect servicers who had done nothing wrong. This may reflect the administrations preference, but there is very strong pressure for the Federal Government to impose a moratorium.
Local municipalities can have a major impact on this. With about 40 states initiating actions and/or investigations, local court rulings on the authority to suspend foreclosure actions unilaterally will be important, and likely uneven. Historically such moves have been overturned by the courts, but usually after some delays have been accomplished.
Delayed foreclosure actions, either self-imposed or mandated, will obviously cause the shadow inventory of pending foreclosures to grow, and earlier plans to move forward on delayed foreclosure actions are now being reviewed. With foreclosure delays vacant properties still held as delinquent accounts pose a growing problem to communities. Now more than ever, it is critical to identify damages, recover hazard insurance proceeds, and effect needed repairs on pre-foreclosure properties. In doing so it is equally important that servicers maximize recoveries from hazard insurance, and determine needed repairs with objectivity and awareness of the delicate balance between timeliness, cost effectiveness, and community impact.