Product Description:       For lenders that maintain an insurance follow-up procedure, lender-placed flood and hazard insurance is available to protect properties when the borrower fails to provide proper insurance.

                     Coverage:       “All Risk”  Hazard Insurance on Residential Property.

“Named Perils”  Hazard Insurance on Commercial Property

Flood Insurance on Residential or Commercial Properties.

Limited Dual Interest Protection

Eligible Properties:     Residential, Commercial & Mobile Home
Occupied or vacant
REO properties

 I nsurance Amount:      Property can be insured for loan balance or specified  amount.

			Hazard	Flood
Limit of Liability:		Residential:	$1,000,000	$250,000
		Commercial:	$1,000,000	$500,000

Binding Coverage:       The lender has binding authority up to the limits stated in the policy.

Coverage can be requested via fax, email or website.

Special Feature:       90-Day Automatic Coverage on eligible properties.

Premium:       Premiums are paid by the borrower and typically included in the loan balance or monthly payment

 

Bundle Lender Placed Hazard and Flood Insurance with Mortgage Impairment Errors & Omissions coverage for a complete risk management solution.