Features
Provides the lender with property coverage on specific loans the borrower fails to insure
Covers residential, commercial and mobile home loans
Provides all-risk residential coverage
Provides named-perils commercial coverage
Covers Second Mortgages and Equity Loans
Includes option to cover Real Estate Owned (REO) portfolios. (Monthly premium and internet-based tracking required)
Carries option to include liability coverage
Carries option to include flood coverage with no waiting period and no charge if certificate has no pending claims and is cancelled within the first 60 days.
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Benefits
Allows lender to insure specific, individual properties only
Allows lender to pass the cost of premium on to the borrower
Provides a variety of methods for binding coverage including Internet reporting
Pays claims at replacement cost versus ACV on residential and commercial, including foreclosures and REOs, regardless of whether property is repaired or not
Downloads for this product
Product Summary Brochure
Proposal Request Form
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