Mortgage Impairment

Errors & Omissions Coverage for Financial Institutions

Mortgage Impairment provides a safety net for unknown or unexpected losses by protecting the lender’s interest in the property from errors and omissions that may occur in the day-to-day origination and servicing of residential and commercial mortgage loans.

Key Features Applies To Coverage Requirements

Errors & Omissions Coverage
Impairment Coverage for Lender’s Security Interest
Lender determines tracking process for borrowers insurance
Customizable coverage options
Discounts for multi-year policies

Key Features

Errors & Omissions Coverage
Impairment Coverage for Lender’s Security Interest
Lender determines tracking process for borrowers insurance
Customizable coverage options
Discounts for multi-year policies

Applies To

Financial institutions: mortgage servicers, community banks, credit unions, etc.

Coverage

Any combination of sections cab be purchased provided A or C are included:
- Section A1- Physical loss or damage from “Required Perils”
- Section A2- Liability
- Section B1- Real estate tax liability
- Section B3- Life & Disability Insurance
- Section B4- Flood Disaster Act 1973 liability
- Section B5- GNMA procedures
- Section B6- Title Errors & Omissions liability
- Section B7- Recordation Errors & Omissions
- Section B8- Satisfaction or Mortgage liability
- Section C- Physical loss or damage from Balance of Perils
- Section F- Loss of VA, FHA, SBA and private mortgage guarantee coverage
- Section G- Loss of Security Interest due to Defective Title
- Section H- Custodial Errors and Omissions