How to avoid being lender-placed

• To avoid being lender-placed, you or your agent/carrier must timely present proof of having purchased your own policy.
• Pay insurance premiums on time and provide proof of insurance coverage on a timely basis if you are responsible for paying the premium.
• Ensure the policy holder name and property address listed on the policy matches your loan’s borrower name and property address exactly.
• Ensure we are listed as the Mortgagee with the correct mortgagee address. If you are unsure of what this is, please contact us.
• If the insurance is escrowed, ensure that we receive the renewal policy and bill prior to the renewal date so it can be paid from your escrow account.
• If changing insurance companies, it is important that there is no interruption between policies. It is also a good idea to notify us of any change in insurance company and provide proof of coverage, instead of waiting for a copy to be mailed from the new insurance company.