Mortgage Impairment

Mortgage Impairment is coverage for physical losses from required perils, such as those covered by fire and extended coverage or flood insurance, against losses to:

•  Your mortgage interest in underinsured or uninsured properties
•  Your owner interest in recently foreclosed properties
•  The investor interest in all such properties

Mortgage Impairment also provides coverage for the following:

•   Failure to pay real estate tax mortgage interest
•   Physical loss or damage from balance of perils – this coverage is for “non-required       perils” for loans in which you have an owner interest. “Non-required perils” can include     avalanche, boiler explosion, collapse, earthquake, ice, rain, snow, tidal wave, volcanic     eruption, etc.
•   Procuring or maintaining mortgagor’s insurance policies
•   Life and Disability Insurance
•   Flood Disaster Act of 1973 Liability
•   Real Estate Tax Liability
•   Recordation coverage
•   GNMA, FNMA and FHLMC procedures
•   Custodial coverage
•   Title insurance
•   Loss of Veterans Administration, Federal Housing Administration, Small Business     Administration and private mortgage guarantee coverage
•   Loss of security Interest due to defective title

Optional coverage extension for DUS Lenders gives coverage for your interest in DUS properties.

Coverage features also include:

•  Trust Properties Extension
•  Life and Disability Insurance Coverage
•  GNMA, FNMA, FHLMC, compliance coverage
•  Custodial coverage
•  Title errors and omissions coverage
•  Post Termination Extension
•  Coverage can be written on checking or ex-checking basis