Service mac mortgagee clause

As the nation’s largest non-bank home loan servicer, we’re creating a better home loan experience for every homeowner we serve. Whether it’s our award-winning app and website, or do-whatever-it-takes customer service team, we’re here to help you throughout your entire homeownership journey, from starter house to dream home.

Service mac mortgagee clause. For Overnight Mail. Mr. Cooper 800 State Highway 121 Bypass Lewisville, TX 75067

Contact Us. Our goal is to provide 24/7 access to your loan information. Call our Automated Loan Information System from any touch-tone phone 844-4SVCMAC (844-478-2622) Call to speak with a Customer Service associate. Monday - Friday 8:30 a.m. - 8:00 p.m. | Saturday 9:00 a.m. - 3:00 p.m. ET.

Mac email addresses that end in @mac.com can be accessed using the iCloud service offered by Apple. Simply create an account or log into iCloud using your Apple ID and password to ...Customer Service representatives are available to assist you Monday through Friday, 7:00 AM to 6:00 PM (CST), by calling 866-910-5224 or by faxing 918-619-8948. Payments. BOK Financial. PO Box 21368. Tulsa, OK 74121-1368. Please include your account number on your check. Correspondence.MORTGAGEE CLAUSES To help you move faster. ... PHH Mortgage Services ISAOA/ATIMA P.O. Box 5954 Springfield OH 45501 800-210-8849 856-917-8300. Principal Residential Mortgage, Inc. ISAOA/ATIMA Hazard Insurance Dept 711 High Street Des Moines IA 50392 515-247-5111 515-246-5475.Access your loan servicing account information . Please enter your last name and account number so we can make sure you get to the right place. If you don't have your loan number, you can call us at (800) 263-4159 or email us at [email protected].. If you are experiencing a hardship due to: loss of employment, income reduction, illness or other …855-294-8564. Get Started. We help more than 1.4 million customers per year manage the investment they’ve made in their homes. Lakeview strives to be your home loan partner for life.A hedge clause is a disclaimer found in financial documents that protects a financial reports' authors from liability for errors within the report. A hedge clause is a disclaimer f...

Loan approvals and updated loan approvals issued July 1, 2021 and later will reflect the new mortgagee clause of ServiceMac; Loans funding on or after July 16, 2021 will require the new mortgagee clause for hazard/flood as detailed above; NOTE: …We believe that providing extraordinary service ... Mortgagee Clause Update-Fannie ANSI. CMG image, 05 ... Mac LLPA Messaging Updates-Disaster Update Alabama-Energy ...Manage all insurance & tax details for your mortgage. New Customer. Info for new and recently transferred customers. Mortgage Assistance. ... Cooper is a registered service mark of Nationstar Mortgage LLC. NMLS: #2119 NMLS Consumer Access (www.nmlsconsumeraccess.org).Old Mortgagee Clause wording: New Mortgagee Clause wording: PennyMac Loan Services, LLC PennyMac Loan Services, LLC Its Successors And / Or Assigns Its Successors and/or Assigns PO Box 690450 P.O. Box 6618 San Antonio, TX 78269 -0450 Springfield, Ohio 45501 -6618 As a reminder from the Seller Guide, “It is the …If you have questions about your mortgage account, please call us at 800-365-7772. We accept relay calls. To freely explore our digital banking services without ...

Monthly Payment. $528.00. Includes principle and Interest only. This calculator is assuming that 2% of your total payment is dedicated to tax and insurance. This is not always true and can alter the results. Remember, this is just an estimate – not a legal commitment. Interest rates change often, and your actual rate, payment, or costs may vary.The mortgagee clause gives the insurance company that holds your homeowners insurance policy the right to pay your lender under certain circumstances. For example, let's say you buy a house for $250,000 with a $50,000 down payment and a $200,000 mortgage, and you buy a homeowners insurance policy with $250,000 worth of coverage on the …Mortgage loans must incorporate the most current Fannie Mae/Freddie Mac Note and Security Instruments, including all applicable riders and addenda. ... is the Correspondent’s sole responsibility to ensure that all insurance carriers or agents are notified to change the mortgagee clause to: PennyMac Loan Services, LLC Its Successors And/Or ...At its core, the mortgagee clause is a contractual provision that specifies the lending institution’s interest in a property under a mortgage agreement.For Mr. Cooper’s customers, this clause is more than just a paragraph in your mortgage documents; it’s a safeguard that ensures your lender (in this case, Mr. Cooper) is appropriately listed on …Used in mortgagee clauses in property insurance policies : Purpose in Mortgages: To allow the mortgagee to transfer rights to another entity or bank : Protection for Lender: Ensures the lender’s interest is protected if the loan is sold or servicing rights are transferred : Protection for BorrowerOctober 26, 2020, 6:09 pm By Sarah Wheeler. First American Financial Corp. announced Monday an agreement to acquire subservicer ServiceMac, which it anticipates closing at the end of 2021. First ...

Maria bartiromo children.

Essex Mortgage's corporate office is located at 1417 N. Magnolia Ave. Ocala, FL 34475 Tel: 714-935-2581; Loans made or arranged pursuant to a California Financing Law license. CA Department of Real Estate License #00936013; CA Department of Financial Protection and Innovation License #603G833, NMLS #70377 .The mortgagee clause will then be added to your policy by the insurance provider, giving the lender the protection they require. Most of the time, before finalizing the mortgage agreement, lenders want that the mortgagee clause be in place. Pros and Cons of a Mortgagee Clause. Like any insurance provision, mortgagee clauses have their ... 877.943.4778. If your loan has closed and you would like to access your account details, please click on the link below. ServiceMac Customers. To speak with a ServiceMac agent, please call 855.808.4651 or email at [email protected]. COMPLAINTS REGARDING THE SERVICING OF YOUR MORTGAGE SHOULD BE SENT TO THE DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR BOULEVARD, SUITE 201, AUSTIN TX 78705. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A …We believe that providing extraordinary service ... Mortgagee Clause Update-Fannie ANSI. CMG image, 05 ... Mac LLPA Messaging Updates-Disaster Update Alabama-Energy ...

A mortgagee clause, also known as a loss payee or mortgage clause, is a provisional agreement that pops up in home loans. It’s established between a property insurance provider and a mortgage lender (the mortgagee). It protects the lender from experiencing financial losses in situations where the mortgaged property becomes … INSURANCE MORTGAGEE CLAUSE INVOICE PAYMENTS - MAIL CORPORATE OFFICE Pennymac Loan Services, LLC Its Successors And /Or Assigns Pennymac Corp. Pennymac Corp. P.O. Box 6618 P.O. Box 669 3043 Townsgate Road, Suite 300 Springfield, OH 45501-6618 Moorpark, CA 93020-0669 Westlake Village, CA 91361 866.695.4122 CUSTOMER SERVICE If you are making monthly mortgage payments to Service First, please call 877-865-9792 for instructions for getting the check endorsed. Please note: Insurance checks are not endorsed at branches or the Corporate Office. If you are making mortgage payments to another company, please update the mortgagee clause on your insurance policy.The Seller is responsible to purchase a commitment/policy from an agency approved private mortgage insurer prior to the mortgage loan closing for all loans requiring private mortgage insurance (PMI). Pennymac realizes that some MI companies may limit what they accept and may add specific credit requirements.Effective immediately, the hazard and flood insurance mortgagee clause has been updated for loans sold to PennyMac Correspondent Group. See below for the correct clause to be used going forward: HAZARD AND FLOOD INSURANCE MORTGAGEE CLAUSE. PennyMac Loan Services, LLC. Its Successors And / Or Assigns. PO Box 690450. San Antonio, TX 78269-0450To Address a Mortgagee Clause: ServiSolutions, a division of the Alabama Housing Finance Authority ISAOA ATIMA P.O. Box 242967. Montgomery, AL 36124-2967. If ...The Mr. Cooper mortgagee clause plays a pivotal role in protecting your home and financial interests. By ensuring this clause is accurately included in your homeowner’s insurance policy, you safeguard your property, comply with your mortgage requirements, and ensure a smoother process in the unfortunate event of damage or loss.If you are in a confirmed FEMA disaster area, please contact Customer Service at 1-855-444-8286. ... All property insurance policies should include the following mortgagee clause: Interfirst Mortgage Company, ISAOA; C/O Specialized Loan Servicing LLC; P.O. Box 4500; Springfield, OH 45501<iframe src= "https://www.googletagmanager.com/ns.html?id=GTM-5L8N3R3" height= "0" width= "0" style= "display:none;visibility:hidden" ></iframe>Loan approvals and updated loan approvals issued July 1, 2021 and later will reflect the new mortgagee clause of ServiceMac. Loans funding on or after July 16, 2021 will require …

Counseling. Use our locator or call (800) 569-4287 to find job search and employment services, utilities assistance, and credit counseling in your area. Search Now.

In a nutshell, a “mortgagee clause” is a type of contractual provision that is added to a property insurance policy where the borrower’s insurance company agrees to pay the lender for any claims under the policy. This provision protects the mortgagee (the lender) from financial losses. As a result, if the borrower’s property is damaged ...This site is not authorized by the New York State Department of Financial Services. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. First American Mortgage Solutions, LLC, and its affiliates make no express or implied warranties respecting the ...This communication is provided for use by real estate or mortgage professionals only and is not intended for distribution to consumers or other third parties. This does not constitute an advertisement as defined by Section 1026.2(a)(2) of Regulation Z. Licensed Mortgage Banker-NYS Department of Financial Services.PO BOX 29411. Phoenix, AZ 85038-9411. Was this article helpful? 0 out of 0 found this helpful. Submit a request. ServiceMac, LLC ISAOA ATIMA PO BOX 29411 … Contact Us. Our goal is to provide 24/7 access to your loan information. Call our Automated Loan Information System from any touch-tone phone 844-4SVCMAC (844-478-2622) Call to speak with a Customer Service associate. Monday - Friday 8:30 a.m. - 8:00 p.m. | Saturday 9:00 a.m. - 3:00 p.m. ET. Mr. Cooper mortgagee clause address for hazard and flood insurance policies. Listed for reference only. Other Addresses. Overnight Payoff Address 3000 Kellway Drive Suite 120 Carrollton TX 75006. Standard Payment Address PO Box 650783 Dallas TX 75265. Payoff method varies by account.Mac Tools doesn’t offer a dealer locator as of 2016, but shop owners can contact the company’s customer service department to have a Mac Tools distributor visit a shop. Owners shou...Jun 16, 2021 · P.O. Box 105178. Atlanta, GA 30348-5178. In addition, borrowers will see ServiceMac’s information on mortgage payment coupons and any servicing correspondence. ServiceMac’s customer service number is 844-478-2622. New Mortgagee Clause (Including Hazard, Flood, Wind/Hail, etc.) For loans closing July 1, 2021 and later, the below mortgagee ... Nov 13, 2023 · The mortgagee clause is the linchpin in your property insurance policy, ensuring the lender’s interests are protected if Jack Frost decides to be particularly harsh, or unforeseen happenstances damage your home. For Mr. Cooper mortgages, this clause is part and parcel of the agreement, acting like a watchful guardian over the lender’s ... INSURANCE MORTGAGEE CLAUSE INVOICE PAYMENTS - MAIL CORPORATE OFFICE Pennymac Loan Services, LLC Its Successors And /Or Assigns Pennymac Corp. Pennymac Corp. P.O. Box 6618 P.O. Box 669 3043 Townsgate Road, Suite 300 Springfield, OH 45501-6618 Moorpark, CA 93020-0669 Westlake Village, CA 91361 866.695.4122 CUSTOMER SERVICE

Unlv shooting wiki.

Portage barber shop.

Let’s get in touch. 88 C. Michael Davenport Blvd. Suite 1 Frankfort, KY 40601888-914-2276Tax Service $85.00 Funding Fee (Agency/Gov) 800-449-8767, M-F 8a-9p ET, Sat 8a-5p ET $295.00 Non-Delegated Service Received PHH Fee Schedule Additional Information Agency ID #'s Delegated Service Received Fee Best Efforts by 9p ET, M-F Conventional UW $450.00 Non-Conforming Transfer/Admin $325.00 Tax Service $85.00The Consumer Financial Protection Bureau on Monday released a rule allowing consumers to bring class actions against financial companies. By clicking "TRY IT", I agree to receive n...A toll-free consumer hotline is available at (877) 276-5550. The department maintains a recovery fund to make payments of certain actual out-of-pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed …We’re here for you. Eastern Time Zone. Mon-Fri 8am-9pm. 844.917.3669. [email protected]. Please have your loan number available. Let us guide you through each step of the application process - making it easy to apply anytime, anywhere and from any device.Because the ServiceMac service transfers the majority of their loans, how you make payments may have changed since you received your initial payment notice. Please contact (844)-478-2622 if you have not received a billing statement or Notice of Transfer. You can also enter your loan information above.Our local office is located at 5500 South Quebec Street, Suite 260 Greenwood Village, CO 80111, (877) 215-2552. Complaints regarding the servicing of your mortgage may be submitted to the Hawaii Office of the Commissioner of Financial Institutions, P.O. Box 2054, Honolulu, HI 96805, (808) 586-2820.The mortgagee clause works by establishing a tripartite relationship between the insurance provider, the property owner (mortgagor), and the lender (mortgagee). When a property is mortgaged, the mortgagees require the borrower to secure insurance coverage, protecting both parties from potential damage or loss.Payoff Address. Payment Address. Dallas TX 75265. Payoff method varies by account. Call Mr. Cooper prior to mailing payment. Mr Cooper mortgagee clause for title and escrow agents. PO Box 7729. ISAOA / ATIMA mortgagee clause address. Plus overnight payoff address. Contact your insurance agent or insurer to increase your dwelling coverage. Your policy should: Include “a guaranteed replacement cost endorsement,” which provides coverage that fully protects your home, or. Include the minimum coverage provided in your letter. This amount is based on the current balance of your mortgage. No mortgage solicitation activity or loan applications for properties located in the State of New York can be facilitated through this site. First American Mortgage Solutions, LLC, and its affiliates make no express or implied warranties respecting the information presented and assume no responsibility for errors or omissions. Who mortgagee clause for homeowner’s insurance (hazard/property, flooded, if applicable) a being changed to the following: ServiceMac, LLC. ISAOA/ATIMA. P.O. Box 29411. Phoenix, AZ 85038-9411. Effective Date . Loan licenses and updated loan approvals issued July 1, 2021 and later wants reflect the new mortgagee clause of ServiceMac; ….

PennyMac Mortgagee Clause. PennyMac Loan Services LLC Its Successors and/or Assigns PO Box 6618. Springfield OH 45501-6618. PennyMac mortgagee clause addressIf you’ve recently applied with Pennymac, you now have access to your loan application 24/7 with My Home By Pennymac. Log in to check your application progress or call The Mortgage Success Team at (844) 917-3669 Monday - Friday 7 a.m. - 5:30 p.m. (PT). Register online.All payments should be made payable to Specialized Loan Servicing, including those made via MoneyGram or Western Union. If you have received a request to submit funds made payable to an individual, please contact Customer Care Department with questions at 1-800-315-4757 Monday through Friday, 6:00 a.m. until 6:00 p.m. MT. Specialized Loan ...Personal Lending. Wells Fargo Bank, N.A. Attn: Credit Bureau Operations. PO Box 71092. Charlotte, NC 28272. Wells Fargo Bank, N.A. Member FDIC. QSR-05302025-6129792.1.1. LRC-0423. If you would like to contact us by mail, please use one of these addresses.And our Customer Experience Team is here to help you! Customer Experience Toll-Free 1-877-297-5350. Monday – Friday 8:30 am – 5:00 pm CST. Fairway Servicing. P.O. Box 29411. Phoenix, AZ 85038-9411. TITLE INSURANCE AND CLOSING PROTECTION LETTER. HomeBridge Financial Services, Inc. D/B/A Real Estate Mortgage Network. ISAOA/ATIMA. 194 Wood Avenue South, 9th Floor. Iselin, NJ 08830. CONTRACTOR’S GENERAL LIABILITY INSURANCE FOR RENOVATION LOANS: HomeBridge Financial Services, Inc. D/B/A Real Estate ... Oct 11, 2016 ... The Fannie Mae / Freddie Mac Uniform ... The mortgage contract will include clauses ... Terms of Service; Cookie Settings; Cookie Policy · Stack ...mortgagee clause of ServiceMac • Loans funding on or after July 16, 2021 will require the new mortgagee clause for hazard/flood as detailed above NOTE: Homebridge will continue to accept the current mortgagee clause on loans funding on or before July 15, 2021 First Payment Letter and Note Service mac mortgagee clause, ServiceMac Mortgagee Clause. ServiceMac LLC ISAOA / ATIMA PO Box 29411 Phoenix AZ 85038-9411 . ServiceMac mortgagee clause address for hazard and flood insurance policies Listed for reference only. ServiceMac mortgagee clause address. Title companies., Mail in My Payments: ⁠PO Box 105178 ⁠Atlanta, GA 30348‑5178. ACH Payments: ⁠Click here to set up automatic payments or call customer service at (855) 473‑4307. Pay by Phone: ⁠Call customer service at (855) 473‑4307, Once you have completed that information, your mortgage summary will appear. If you have questions or need assistance, please contact Mortgage Customer Service at 1-800-803-0803 between 8:00 am and 5:00 pm CST. Thank you for choosing Synovus., Jul 16, 2021 · Loan approvals and updated loan approvals issued July 1, 2021 and later will reflect the new mortgagee clause of ServiceMac. Loans funding on or after July 16, 2021 will require the new mortgagee clause for hazard/flood as detailed above. , Mortgagee clause: Pennymac Loan Services, LLC, Its Successor and/or assigns P.O. Box 6618, Springfield, Ohio 45501-6618 I currently make my payment through a bill pay …, Overview. The Correspondent is responsible to purchase a commitment/policy from an agency approved private mortgage insurer prior to the mortgage loan closing for all loans requiring private mortgage insurance (PMI). Pennymac realizes that some MI companies may limit what they accept and may add specific credit requirements., If you are in a confirmed FEMA disaster area, please contact Customer Service at 1-855-444-8286. ... All property insurance policies should include the following mortgagee clause: Interfirst Mortgage Company, ISAOA; C/O Specialized Loan Servicing LLC; P.O. Box 4500; Springfield, OH 45501, <iframe src= "https://www.googletagmanager.com/ns.html?id=GTM-5L8N3R3" height= "0" width= "0" style= "display:none;visibility:hidden" ></iframe>, 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: Rushmore Servicing. Its Successors and/or Assigns. PO …, ServiceMac is excited to begin servicing your loan effective October 1, 2021. You should have received a goodbye letter that provides details on the transfer of your loan. Please look out for a welcome package from ServiceMac that includes additional information regarding the transition., Specialized Loan Servicing LLC. P.O. Box 636005. Littleton, CO 80163-6005. Attention: Customer Care Support. Please include name and loan number on all correspondence. Our fax number is: 1-720-241-7218. Please include name and loan number on all faxes. You may contact Customer Support via your message center by logging into your account ..., 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: Rushmore Servicing. Its Successors and/or Assigns. PO …, CSC Customer. “CSC is great. Always a pleasure working with them!”. CSC Customer. “I am very happy with CSC. They are very professional and were able to help me quickly over the phone.”. CSC Customer. “Thank you CSC for all your support. I wouldn’t have been able to refinance without you guys!”., Get in touch with a loan specialist or contact support services for current Movement Mortgage customers. Loan servicing - 855-979-1084 . Corporate offices - 888-589-4416., INSURANCE MORTGAGEE CLAUSE INVOICE PAYMENTS - MAIL CORPORATE OFFICE Pennymac Loan Services, LLC Its Successors And /Or Assigns Pennymac Corp. Pennymac Corp. P.O. Box 6618 P.O. Box 669 3043 Townsgate Road, Suite 300 Springfield, OH 45501-6618 Moorpark, CA 93020-0669 Westlake Village, CA 91361 866.695.4122 CUSTOMER SERVICE, As the nation’s largest non-bank home loan servicer, we’re creating a better home loan experience for every homeowner we serve. Whether it’s our award-winning app and website, or do-whatever-it-takes customer service team, we’re here to help you throughout your entire homeownership journey, from starter house to dream home., The mortgagee clause is the linchpin in your property insurance policy, ensuring the lender’s interests are protected if Jack Frost decides to be particularly harsh, or unforeseen happenstances damage your home. For Mr. Cooper mortgages, this clause is part and parcel of the agreement, acting like a watchful guardian over the lender’s ..., A mortgagee clause is a protective provisional agreement between a mortgage lender (the mortgagee) and a property insurance provider. This type of clause safeguards the lender from incurring financial losses in cases where the mortgaged property becomes damaged, as it requires the insurer to guarantee payouts when any claims …, P.O. Box 29411. Phoenix, AZ 85038-9411. TITLE INSURANCE AND CLOSING PROTECTION LETTER. HomeBridge Financial Services, Inc. D/B/A Real Estate Mortgage Network. ISAOA/ATIMA. 194 Wood Avenue South, 9th Floor. Iselin, NJ 08830. CONTRACTOR’S GENERAL LIABILITY INSURANCE FOR RENOVATION LOANS: HomeBridge Financial Services, Inc. D/B/A Real Estate ... , Please contact the Help Desk at Autotask Client Portal. Return To Home. SERVICEMACUSA.COM. , Please contact the Help Desk at Autotask Client Portal. Return To Home. SERVICEMACUSA.COM. , Mortgagee Clause: PennyMac Loan Services, LLC. Its Successors and/or Assigns. P.O. Box 6618. Springfield, OH 45501-6618. For inquiries (including information on where to …, A mortgagee clause is a protective provisional agreement between a mortgage lender (the mortgagee) and a property insurance provider. This type of clause safeguards the lender from incurring financial losses in cases where the mortgaged property becomes damaged, as it requires the insurer to guarantee payouts when any claims covered by the property insurance policy are made., MAC#: N9408-L16 . Minneapolis, MN 55467 . Borrower Contacts Wells Fargo Home Mortgage Notice of Loan Transfer (Goodbye Letter) P.O. Box 51162, Los Angeles, CA 90051- 5462 Customer Service: 866-234-8271 . Borrower Overnight payments: Wells Fargo Home Mortgage . Lockbox Service 51162, ATTN: WFHM 936 . 3440 Flair Drive . El …, 855-294-8564. Get Started. We help more than 1.4 million customers per year manage the investment they’ve made in their homes. Lakeview strives to be your home loan partner for life., Mail: Mr. Cooper. PO Box 7729. Springfield, OH 45501. Be sure to include your loan number and most up-to-date contact information. Feel free to contact us if you have any questions about insurance changes. It’s important we’re kept in the loop so we can keep your escrow account up to date and use its funds properly on your behalf. , A toll-free consumer hotline is available at (877) 276-5550. The department maintains a recovery fund to make payments of certain actual out-of-pocket damages sustained by borrowers caused by acts of licensed mortgage banker residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed …, You can update your mortgagee clause by contacting your insurance agent. Provide your Valon loan number to your agent and ask them to update the mortgagee clause on your certificate of insurance to: Valon Mortgage, Inc. and its successors and/or assigns. PO Box 29415. , The mortgagee clause is a provision that protects the lender from financial loss if the mortgaged property is substantially damaged or destroyed. A mortgagee clause protects the lender even if the ..., Buy a home with the right mortgage for your unique needs. Get started with our mortgage calculators, apply online, or speak to a loan officer., Loan approvals and updated loan approvals issued July 1, 2021 and later will reflect the new mortgagee clause of ServiceMac. Loans funding on or after July 16, 2021 will require …, The mortgagee clause for homeowner’s insurance (hazard/property, flood, if applicable) belongs being changed to the following: ServiceMac, LLC. ISAOA/ATIMA. P.O. Box 29411. Phoenix, AZ 85038-9411. Effect Date . Loan approvals press updated loan approvals issued July 1, 2021 and later will reflect the new mortgagee clause of ServiceMac, A mortgagee clause, also known as a loss payee or mortgage clause, is a provisional agreement that pops up in home loans. It’s established between a property insurance provider and a mortgage lender (the mortgagee). It protects the lender from experiencing financial losses in situations where the mortgaged property becomes damaged.