Insurance Binder Checklist
___ 1. Do the names match exactly?
___ 2. Do you have the mortgagee clause perfect?
___ 3. With loan number?
___ 4. Effective Date?
___ 5. Does the replacement cost cover the appraisal
rebuild...125% of extended?
___ 6. 120 days left on existing HOI out rule on refi?
__ 7. The 438BFU is called lenders loss payable
endorsement
___ 8. Rental refin’s should show 6 months rental loss
___ 9. Make effective as of funding date
Copy and paste in common section on form:
1. PLEASE SHOW NAME ON POLICY AS SHOWN ON THIS FORM
2. COVERAGE SHOULD INCLUDE 125% OF EXTENDED
3. POLICY MUST SHOW 438BFU OR SEND OVER COPY OF 438BFU
4. SHOW IF PREMIUM HAS BEEN PAID IN FULL OR IF THERE IS A BALANCE
5. PLEASE SEND ALSO COST REPLACEMENT COST