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A policy (usually a single policy) which protects the financial institution against loss from various errors and omissions in the course of its mortgage loan processing duties.  This includes first mortgages, commercial loans, equity loans, and - when endorsed - trust properties

Program Features:

  • Coverage up to $20 million in the standard program
  • Competitive Pricing
  • Simple Policy Language
  • 3 year pre-pay policies available with substantial premium discount
  • Discounted premium rate for "checking" of insurance expiration dates
  • Coverage meets Federal and Secondary Marketing requirements
  • No requirement to maintain copies of insurance policies
  • 365 day cancellation clause option
  • centralized claims processing
  • continuity from prior carrier
  • Will quote from Brief Questionnaire, bypassing the need to complete a full application (however, the full application will be required, should the quote be accepted)
  • Handling of Escrowed Hazard Insurance Premiums
  • Handling of Mortgage Cancellation and Disability Insurance
  • Handling of Real Estate Taxes
  • Compliant with Secondary Market Requirements
  • Requirements of FHA, VA, SBA, and PMI Companies
  • GNMA Requirements
  • "Third Party' Discrimination Lawsuits Covered
  • Earthquake and Pollution Coverage (see policy)
  • 90 Day Automatic Coverage Period
  • Optional "All Risk" Coverage
  • Local Claims Adjusting
  • Real Estate Tax Extension
  • Post Termination Extension
  • Legal Assistance in The Prosecution of Claims


Lenders Financial Insurance Services
(248) 689-2001
(855) 313-1468 (fax)