Reg's
For high-risk properties, a mortgage lender will likely require this additional policy, which is not included in standard homeowners insurance, if the home is located in a federally designated "A" or "V" zone.
What is Flood Insurance
What screen shows all the insurance maintenance history?
What is the HAZM screen.
What is one of our PenFed Values?
Personal & Profesional Excellence
Integrity & Respect
Teamwork
Service
High Performance
If a borrower's policy lapses, a lender may purchase this typically more expensive type of policy to protect their interest, charging the cost back to the borrower.
What is Force-Placed (or Lender-Placed) insurance
What screen identifies the lien position of the loan?
What is P197 Screen
What is one of our Servicing Strategic Pillars?
Be an Efficient Servicer
Reputation Management
Member Driven Excellence
Attract and Retain Talent
To ensure they can fully rebuild a property after a total loss, most lenders require this specific type of home insurance coverage rather than "actual cash value"?
What is Replacement Cost coverage
What insurance type is used to identify Flood Gap coverage?
What is 354 type.
What is our escrow mission statement?
What is:
The Escrow mission is to support a clear and caring home loan journey, built on integrity, driven by teamwork, and perfected through continuous improvement.