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Mortgage Impairment

Mortgage Impairment Insurance 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 Insurance may also provide coverage for:

  • 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

TEJ Agency has the necessary solutions for your Mortgage Impairment Insurance needs. We can create and customize a program that will provide safety, simplicity and convenience for your individual institution and your borrowers.

Once the program is established, we also have the tools to help you manage it with our industry leading Outsourced Insurance Tracking software.

Enhance your risk management program. Protect your loan portfolio. Simplify your processing. TEJ Agency can help you improve almost any area of your Mortgage Impairment Insurance program.