Decus | Lender Placed Property & Mortgage Impairment

At Decus Insurance Brokers we are able to offer coverage for financial institutions, loan servicers and property investors. This includes Lender Placed Hazard protection or Collateral Protection Insurance. This is an Insurance policy placed by a lender, bank or loan servicer on a home when the property owners’ own Insurance is cancelled, has lapsed or is deemed insufficient. This Insurance allows the lender to protect its financial interest in the property. We also provide Real Estate Owned (REO) cover whereby a financial institution forecloses on a property following loan delinquency or an investor purchases a portfolio of properties.

Our facilities are written 100% with certain Underwriters at Lloyd’s of London as well as Company Markets.

We are able to offer Mortgage Impairment coverage which provides protection against a financial institution’s owned and serviced loan portfolio in the event that no other insurance exists and the loan is in default. Our facility is written 100% with certain Underwriters at Lloyd’s of London.

Lloyd’s was the first market to offer lenders this coverage and policies have been written in Lloyd’s for over 50 years. The form has evolved over the years to ensure its full compliance of FNMA, GNMA and FHLMC.

Turnaround time

We aim to respond within 24 – 48 hours as our facility offers in-house underwriting for the smaller institutions

Lender Placed Coverage

Coverage

Our facilities provide coverage to:

a) “Lending Institutions" in respect of their portfolio of Uninsured Properties, both in respect of their hazard exposure and their Flood Exposure

and/or

b) “Lending Institutions" or other Real Estate Owning Corporations in respect of their foreclosed and/or owned real estate portfolios.

Mortgage Impairment Coverage

Coverage

The object to Mortgage Protection Coverage is to protect the interest of the lending institutions that are primarily engaged in the granting of loans secured by real property.