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.

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.

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 insu...

Here are common types of homeowners insurance and general guidelines about which coverage you should maintain: Remember, this is just an overview. That means you shouldn’t assume any of these do or don’t apply to you based on this list alone.

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.

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.

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.