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Loan Servicing

Loan Servicing E&O (Mortgage Impairment) – Mortgage Impairment Insurance protects lenders from mistakes that can occur in the day-to-day origination and servicing of loans. Mistakes are becoming more and more common in lending due to increased regulation. It covers the lender’s security interest in the event certain procedures are not followed resulting in physical damage or liability loss to the lender. Mortgage Impairment Insurance is one of the broadest coverage forms available in the market today. The policy consists of physical damage coverage in the event a borrower’s hazard insurance fails, or lender’s liability in the handling/escrowing of borrowers’ insurance, real estate taxes and determining if a property is in a flood zone. 

Click  this link for a more detailed list of possible claim examples 

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