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.

Definition. 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 ins...

An escrow account is where funds are held to pay property tax and insurance bills on your behalf. If your loan is escrowed, a part of your mortgage payment goes into your escrow account every month.

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...

What is mortgage insurance ( PMI / MIP) and how to request removal. The requirements to remove MIP are complex and depen... It can be called Private Mortgage Insurance ( PMI) or MortgageInsurance Premium ( MIP ). ... including how you may be able to eliminate PMI altogether if ...

Mortgage Insurance (also PMI or MIP) - Mr. Cooper. Removing PMI If you’re required to carry PMI, we’ll cancel it automatically on the date your loan-to-value (LTV) ratio is scheduled to reach 78%. It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Pre...

It can be called Private Mortgage Insurance (PMI) or Mortgage Insurance Premium (MIP).

Homeowners Insurance Changes for Transferred Accounts. You’ll need to notify your insurance company that your loan was transferred to us and that they’ll receive payments from us now. Give them your new loan number and have them update the mortgagee clause on your account to: Nations...

What is mortgage insurance ( PMI / MIP) and how to request removal. The requirements to remove MIP are complex and depen... It can be called Private Mortgage Insurance ( PMI) or MortgageInsurance Premium ( MIP ). ... including how you may be able to eliminate PMI altogether if ...

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.