While there are a lot on the market, insurance companies must carry at least a B+ rating from A.M. Best to provide coverage on Mr. Cooper accounts. Please contact us if you have questions about whether your preferred insurance providers qualify.

If there are any changes to your insurance policy or carrier, please let us know as soon as possible by sending us the Declarations Page. Visit www.mycoverageinfo.com/mrcooper and follow the simple instructions to upload your Declarations Page.

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.

Projected property tax and insurance amounts, and their due dates, for the next year. Details of your previous analysis, including the date completed, are in the “Escrow Analysis” tab once you’re signed in.

When a disaster strikes your home, your insurance company may issue an insurance claim check, which can also be called loss draft funds. A claim check is meant to cover various costs, including repairs.

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.

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.

File an insurance claim with your provider for damages related to the disaster. Apply for mortgage assistance with us. Register for disaster assistance with federal, state, and local agencies. (This assistance may cover expenses that your insurance company doesn’t.)

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.

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...