Mortgage Guard Resources
What is Mortgage Guard®?
Mortgage Guard consists of the Proctor Financial master policy for lender placed hazard and liability insurance for residential and commercial properties. When a person fails to make insurance payments, a lender must acquire insurance for the property to protect the lender´s interest in that property. This process has been defined as lender placed insurance (also called “forced placed” insurance within the industry). PFI´s Mortgage Guard product provides a flexible, affordable option to ensure a comprehensive coverage solution. Bundle Mortgage Guard with Bridge60® (flood) and optional premises liability for a complete coverage solution.
How Mortgage Guard benefits a financial institution
- Lender named as insured to provide instant binding authority
- Standard all-risk (including wind) for residential/mobile home properties
- Named perils for commercial properties; all risk may be available
- Optional coverages available as needed
- Customized billing options
- Outsourcing and insurance tracking services through “The Proctor Ensemble“
For more information, contact PFI at 800.521.6800 or e-mail us.