These policies offer your firm the fidelity and mortgagees errors and omissions coverages required by investors. They often feature crime coverage and can be tailored to include other coverages your firm may need.
Insures against losses due to dishonest
employees and may be extended to include
closing agents, third party originators, servicing contractors
Protect your mortgagee interest plus your liability to investors
and mortgagors when losses occur due to specified accidental
errors or omissions such as failure to arrange for insurance
or pay real estate taxes. (If you service loans on an ex-checking
basis or want to cover non-required perils, see Mortgagee's E&O / Mortgage Impairment.)
Theft of Investors' Money or
Cover liability for theft by a sole proprietor, partner or
major shareholder of secondary market investors' money
or double pledging of collateral.
Cover theft of property and documents on your premises or in
transit, computer crimes, forged documents, check forgery and
more. (For more information about what can be covered, click
Borrower Fraud & Forgery
Protect your firm from fraudulent misrepresentation on 1-4 family
residential loan documents.
extensions may be available if you:
- Service commercial or condo association loans
- Service condo / PUD / coop loans and want to end checking renewals of master association
- Service conventional loans and want to end checking on part of the portfolio
- Act as your own document custodian
- Oversee reserve escrows
*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.