Blanket Mortgage Impairment Insurance

Residential neighborhood

Blanket impairment protection of mortgage loan properties, up to a full-blanket with no insurance follow-up required. Includes coverage for various servicing errors & omissions.

Features

Covers residential (first, second / equity) and commercial mortgage properties

Three coverage options:

  • Full-blanket: no insurance follow-up required
  • Ex-checking: lender responds to known cancelations within 90 days
  • Checking: lender continuously monitors all property insurance

Provides limited coverage for flood loss to properties outside of flood zones; also limited coverage due to earthquake outside of California

Covers various servicing errors & omissions, like failure to pay escrowed insurance premium

Foreclosed REO properties covered via MortgageHazard.com

Blanket may be extended to REO properties with underwriting approval

Benefits

Peace of mind knowing your mortgage properties have back-up coverage

Eliminates labor-intensive insurance follow-up and reduces internal costs

Protects lender from many mortgage servicing errors and omissions

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