Blanket Insurance | Real Estate & Commercial Portfolio
Blanket Mortgage Protection cover’s a financial institutions entire mortgage portfolio for property damage and is a substitute for lender placed insurance (force placed insurance).
Blanket Protection Coverage
This particular blanket policy minimizes the Lender’s exposure to losses resulting from a Borrower’s failure to acquire and maintain adequate insurance. The Blanket Insurance Policy eliminates the need for a financial institution to track and force place insurance when a mortgaged property other than an REO becomes uninsured.
The Blanket Insurance Policy is issued to a financial institution on an annual term. All eligible mortgaged properties are automatically covered during the policy term. REO properties would require force placing for Fire and Liability through our Force Placed Insurance program.