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”
Mortgage Guard Resources• Mortgage Guard Program Highlights• Mortgage Guard ApplicationFor more information, visit www.pfic.com/programbusiness, contact PFI at 800.521.6800 or e-mail us.
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