Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

You can review your current insurance coverage information at the site we just mentioned: www.mycoverageinfo.com/mrcooper. Note: The following Mortgagee Clause must appear on your insurance policy. If it’s not there, contact your insurer and let them know.

Mortgage insurance protects the investor or noteholder if the borrower defaults on the loan. It lowers the investor’s risk when funding a home loan. In most cases, if you pay at least 20% down on your home, you’re not required to carry mortgage insurance.

Depending on the type of insurance, you will need enough to cover the lower of either the replacement cost of the property or the remaining principal balance on your loan.

You are required to have enough insurance to cover the lower of either the replacement cost of the home or the remaining principal balance on your loan. Example: If your unpaid principal balance (UPB) is $80,000 but the replacement cost is $120,000, you need to carry a minimum ins...

Learn how much insurance you need to cover your home and loan, and which types of insurance are required or optional for your property. Find out how to pay for insurance through your escrow account and what to do if you live in a high-risk area.

Find out how to update your insurance policy with the mortgagee clause address for Mr. Cooper, formerly Nationstar Mortgage. See the address and other information for different topics related to escrow, taxes, and insurance.

If your loan was transferred to MrCooper, you need to notify your insurance company and update your mortgagee clause. Learn how to do it and what to do with optional insurance products.

For insurance questions, you can reach our Insurance department at 866⁠-825⁠-9267 or our Loss Draft department at 866⁠-825⁠-9302. Visit our help center articles for more insurance policy changes and insurance claim check process.

If your loan was transferred to MrCooper, you need to notify your insurance company and update your mortgagee clause. Learn how to do it and what to do with optional insurance products.