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.

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.

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.

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.

Your statement will inform you whether your monthly payment is going up or going down in the year ahead, based on this year’s tax and insurance payments. You may also end up with a shortage (too little) or a surplus (too much) in your account, based on next year’s projected payment...

Manage all insurance & tax details for your mortgage.

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...

Learn how to handle an insurance claim check from your insurance company after a disaster. Find out when we may endorse, deposit, or distribute the funds to you.

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.)