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Mortgagee’s E&O / Mortgage Impairment

Cover losses to your mortgaged properties that are not covered by the Errors & Omissions Section of a Mortgage Bankers Bond. This coverage can cover damages if your firm is servicing loans on an ex-checking basis or is a portfolio lender who does not escrow for insurance or taxes. Additionally, as an investor who outsources the insurance responsibility to others, this provides you with contingent protection on those loans.

Mortgage Impairment*

Protect your mortgagee or owner interest in under-insured or un-insured properties against physical damage losses as a result of “required” perils—even if you service loans on an ex-checking basis.

Mortgagee’s Errors and Omissions*

Protect yourself from liability due to accidental failure to maintain required coverages or guarantees on mortgaged properties.

Non-required Perils

Portfolio lenders and certain servicers can avoid costly losses due to catastrophic physical damage from perils that may not be “required,” such as earthquake, tidal wave, mudslide, and even flood in excess of the limits provided by the Flood Disaster Protection Act, etc.

*Coverages required by lenders who originate or service loans for Freddie Mac, Fannie Mae, and Ginnie Mae. Many private investors and some warehouse and wholesale lenders also require these coverages.