Covera reads every declarations page, flags coverage gaps, lapses, and flood-mandate violations against citation-backed rules, and runs the RESPA force-placement cure workflow end to end — with an audit-ready evidence bundle for every exception.
Representative servicing portfolio · figures vary by book
Servicing platforms track escrow and payments, not whether each loan actually carries the coverage its note and the regulators require. The gaps that trigger force-placement errors, RESPA findings, and investor repurchase demands sit in declarations pages no one has read. Covera reads them.
Loans secured by property in an SFHA without conforming flood coverage. A documented violation of 42 U.S.C. §4012a with direct civil-penalty and repurchase exposure.
Policies whose dwelling limit falls short of replacement cost or the unpaid balance. The uninsured wedge the bank eats after a loss — itemized per loan.
Coverage that has lapsed or expires inside the notice window, surfaced before the force-placement clock starts — not after a claim is denied.
Each loan is evaluated against a versioned, investor- and state-scoped rule set. Every finding carries the regulation it enforces and a severity, so a flag is never a black box. Climate Foresight adds a forward-looking exposure layer on top.
SFHA-secured loans checked for conforming flood coverage and the regulatory minimum limit.
Dwelling limit tested against replacement cost and unpaid balance, with the NFIP cap applied.
Policies that have lapsed or expire inside the notice window, flagged before the cure clock starts.
Premium escrow tested for shortage and deficiency tolerance ahead of the next disbursement.
Forward-looking flood, wildfire, wind, and heat exposure on each property to anticipate where adequacy fails next.
Every rule family is a versioned config with its own parameters, severity, and investor/state scope — an NFIP cap here, an adequacy tolerance there, a notice window per state. Compliance edits a rule set, saves a new version, and activates it; the change is logged with who, when, and what. No engineering ticket, and the prior version stays replayable for any exam that reaches back to it.
Every loan moves through the same five stations — the exact workflow a compliance team runs by hand today, automated and logged end to end.
Declarations pages are parsed by an AI extractor — carrier, policy number, dwelling limit, deductible, term, flood rider — with a confidence score and a heuristic fallback when a document is messy.
The rule engine evaluates every loan against the active rule set — flood mandate, coverage adequacy, lapse/expiry, escrow shortage — and opens an exception case for each finding, with the citation attached.
RESPA / Reg X borrower notices are generated on the correct schedule and dispatched through a delivery provider that returns a tracking number and proof-of-delivery receipt for the file.
The force-placement cure workflow tracks the 45-day clock, records borrower-supplied evidence, and gates force-placement until the dual-notice requirement is satisfied. Every transition is an immutable event.
A signed evidence bundle (SHA-256) is produced on demand: findings, notices sent, delivery receipts, cure history, and the exact rule-set version applied. Replayable for any exam.
Low-confidence extractions and high-severity findings land in a prioritized review queue with an SLA clock, so a person confirms the call before a notice goes out or a policy is force-placed. Everything else flows automatically. The result is the throughput of automation with the defensibility of human sign-off — and a complete event trail either way.
Three artifacts for every portfolio: a per-loan coverage record, a live compliance dashboard, and a signed, audit-ready evidence bundle. When a declarations page can't be read with confidence, the loan routes to review rather than guessing. No coverage value is ever synthesized.
A residential servicing book of 4,950 loans, scanned against the default rule set. The figures below are illustrative of a first-pass result; your numbers depend on the book and the rule set you activate.
Figures are illustrative of a representative first-pass scan and vary by book and active rule set. Rules are defined in versioned, investor- and state-scoped rule sets. Covera does not synthesize coverage values; declarations pages it cannot read with confidence route to human review.
No rip-and-replace. Four steps from your servicing book to a cured, documented exception.
Upload a loan tape and declarations pages, or sync directly from your servicing system of record. Covera handles batch dec-page intake at scale. AES-256 encryption in transit and at rest; data is purged on request.
Dec pages are parsed and every loan is evaluated against your active rule set — flood mandate, coverage adequacy, lapse/expiry, escrow shortage. Exceptions open automatically, each with its citation. A 5,000-loan book scans in under a minute.
Low-confidence extractions and high-severity findings surface in a prioritized queue with an SLA clock. Reviewers confirm, assign, and approve in-product. Confirmed exceptions advance to the notice and cure workflow.
RESPA notices go out with proof of delivery, the 45-day clock runs, and force-placement is gated until the requirements are met. The signed evidence bundle — findings, notices, receipts, cure history, and the rule-set version applied — exports on demand for any exam.
Flood determinations and Climate Foresight trace to verified government sources; loan and coverage data flow in from your servicing system of record. No proprietary blends, no opaque third-party indexes.
Four roles inside a mortgage servicer or bank. No new data-science team required.
A single queue of coverage exceptions ranked by severity and SLA, each tied to the regulation it enforces. Replaces spreadsheet tracking of dec pages and notice deadlines.
The force-placement cure workflow with the 45-day clock, dual-notice gating, and proof of delivery — so policies are force-placed correctly, on time, and never in violation of RESPA.
Dec-page intake at scale synced from the system of record, with extraction confidence and a review queue. Coverage status stays current without manual data entry.
A signed evidence bundle covering findings, notices sent, delivery receipts, cure history, and the exact rule-set version applied — replayable for any exam or investor review.
Direct answers to the questions raised by servicing, compliance, and audit teams in initial calls.
Pilot engagements are complimentary: send a sample of your book and declarations pages and we return a scored exception report with an audit-ready evidence bundle. Initial review takes approximately forty-five minutes.
Or email us directly at james@clima.solutions