ISO released CV Foreclosure Alert, which will notify underwriters when a foreclosure notice is issued to one of their policyholders. This product is a part of the Coverage Verifier Suite of Services. It provides information that insurers need to assess a growing risk exposure and take steps to measure and mitigate the risk.

Insurers can use CV Foreclosure Alert to monitor their books of business using policyholder data supplied directly for the purpose or data already provided to ISO through the Coverage Verifier service. ISO will monitor the insured properties and automatically notify the insurer when any one of the five types of foreclosure notices is issued: notice of default, lis pendens, notice of trustee sale, notice of foreclosure and real estate-owned.

Once a property is in foreclosure, insurers may also choose to order a property inspection to verify the condition of the property and whether or not it is inhabited. CV Foreclosure alert provides an inspection service as part of its offering. An occupancy inspection report can be ordered as a separate transaction or automatically initiated by the system based on default criteria established by the customer.