Blanket Mortgage Fire Protection

Overview

There is an alternative to lender placed hazard insurance.

The Blanket Mortgage Fire product is an economical alternative to Lender-Placed hazard tracking and insurance. This is comprehensive blanket protection for any segment of the lender’s portfolio. No continuous insurance tracking is required. For many lenders, Blanket Mortgage Fire is a superior risk management tool over lender-placed hazard insurance.

Key Features

• Lender administrative expense is reduced, freeing resources for more productive purposes.
• Gaps in coverage due to a failure to report properties as uninsured are eliminated.
• Coverage is broader than many Lender-Placed hazard policies.
• Simple to administer and report.
• Premiums are frequently less than insurance tracking and monitoring expenses.
• Lender selects which segments to insure on a blanket basis (e.g. First, 2^nd, and HELOC).
• May be placed in conjunction with Real Estate Owned or Lender-Placed hazard tracking and/ or insurance and combined within a single policy.

Eligibility

All Residential or Commercial Firsts, Seconds and/ or Home Equities. New Originations or Assumption of In-Force Mortgages. Real Estate Owned may be included on a scheduled basis.