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.

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 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 i...

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.

A portion of your monthly payment will be placed in an escrow account for your lender to use to pay your homeowners insurance, which protects against storm damage, fire, theft, and accidents that may occur on your property.

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.

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 you’ve been affected by a disaster, such as a winter storm, hurricane, tornado, or wildfire, here are 3 steps you can take to help ensure your home and finances are protected. File an insurance claim with your provider for damages related to the disaster. Apply for mortgage as...