Real Estate
Forced Order Hazard
The lender’s promissory note requires the borrower to maintain proper insurance which protects the lender’s
interest. If the borrower fails to do this, the lender has the right to place insurance that will protect their interest. The
policy premium is passed along to the borrower and is designed to protect the lender for physical damage losses up
to the outstanding loan balance. Online tracking capabilities make it easy to monitor insurance cancellations and place
coverage at your discretion.
Blanket Mortgage Hazard
When tracking insurance renewals and cancellations is not appealing to the bank, a Mortgage Impairment Policy is
available. These types of policies are cost effective to lenders with low risk portfolios who have a limited physical
damage loss history.
REO Hazard and Liability Insurance
This policy protects the lender after property is foreclosed and the lender has title to the property. This coverage has
dwelling and real property coverage as well as liability coverage available by endorsement since the title is now in the
lender’s name. This coverage is typically placed by the lender at foreclosure. The lender keeps this coverage in place
until the property is sold. Coverage can be extended to REO properties from both the lender placed hazard insurance
or the blanket hazard insurance policies.
Flood determinations
We partner with FIS Flood Services for their online flood determination request and delivery program. The cost can
be considerably less using BMF as a wholesaler than contracting direct with your provider.
Lender Placed Flood Insurance
Coverage is available to protect the lender if the borrower is unable or unwilling to maintain required flood insurance.
This coverage protects dwellings and other structures for the peril of flood up to the outstanding loan balance. In
addition, coverage is available for debris removal, loss avoidance measures (sandbags, pumps, labor etc), loss
assessment from associations, increase cost of compliance by government agencies, temporary housing expenses.
Home Warranties
Home warranties help protect a home's systems and appliances regardless of age, make or model. It's an affordable
way for homeowners to protect themselves from unexpected and costly repair bills. This product can be sold at the
mortgage loan desk or through statement inserts.
Forced Order Hazard
The lender’s promissory note requires the borrower to maintain proper insurance which protects the lender’s
interest. If the borrower fails to do this, the lender has the right to place insurance that will protect their interest. The
policy premium is passed along to the borrower and is designed to protect the lender for physical damage losses up
to the outstanding loan balance. Online tracking capabilities make it easy to monitor insurance cancellations and place
coverage at your discretion.
Blanket Mortgage Hazard
When tracking insurance renewals and cancellations is not appealing to the bank, a Mortgage Impairment Policy is
available. These types of policies are cost effective to lenders with low risk portfolios who have a limited physical
damage loss history.
REO Hazard and Liability Insurance
This policy protects the lender after property is foreclosed and the lender has title to the property. This coverage has
dwelling and real property coverage as well as liability coverage available by endorsement since the title is now in the
lender’s name. This coverage is typically placed by the lender at foreclosure. The lender keeps this coverage in place
until the property is sold. Coverage can be extended to REO properties from both the lender placed hazard insurance
or the blanket hazard insurance policies.
Flood determinations
We partner with FIS Flood Services for their online flood determination request and delivery program. The cost can
be considerably less using BMF as a wholesaler than contracting direct with your provider.
Lender Placed Flood Insurance
Coverage is available to protect the lender if the borrower is unable or unwilling to maintain required flood insurance.
This coverage protects dwellings and other structures for the peril of flood up to the outstanding loan balance. In
addition, coverage is available for debris removal, loss avoidance measures (sandbags, pumps, labor etc), loss
assessment from associations, increase cost of compliance by government agencies, temporary housing expenses.
Home Warranties
Home warranties help protect a home's systems and appliances regardless of age, make or model. It's an affordable
way for homeowners to protect themselves from unexpected and costly repair bills. This product can be sold at the
mortgage loan desk or through statement inserts.
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