mortgage impairment

Increasing regulations that help protect your clients can often create complexities when it comes to fully protecting your collateral and ensuring flawless business practices at all times. Additionally, in the servicing of mortgages, many other nuanced risks exist that can be challenging to protect against and costly to your organization. At OSC, we not only know how to track and insure your portfolio of properties, we know how best to protect our valued clients and mitigate other uncertainties you face in a dynamic business environment.

Protecting those who lend or service mortgages.

OSC Mortgage Impairment Coverage is protection that comes into play should certain non-covered losses, regulatory, or legal actions occur such as those that are the result of an error or omission by an employee. The range of coverage can be tailored to your specific business needs, but the need for such protection is clear … it protects you.

Coverage that has your back.

In partnership with an A.M. Best A+ rated carrier, OSC provides competitive Mortgage Impairment Coverage for events* such as:

  • Homeowners insurance lapse of coverage or insolvent insurance company
  • Investigation of denied loss for potential coverage by impairment policy
  • Unpaid, escrowed insurance premium at time of event
  • Non-payment of property taxes leading to property seizure
  • Improper determination or absence of property insurance required by Flood Act
  • Errors and Omissions related to GNMA, FNMA, and/or FHLMC guidelines
  • Title related issues such as errors in searching liens or title company insolvency
  • Non-disclosure to Private Mortgage Insurance carrier of mortgage in arrears
  • Failure to notify of discontinuation of escrowed insurance due to mortgage satisfaction

* Specific policy coverages subject to individual terms and conditions as outlined in your policy

  • Limit of $2MM (Higher limits are available)
  • Reduced rates for 3-year policies
  • A.M. Best A+ rated carrier
  • Readily quoted upon completed submission with quick binding
  • Varied options and deductibles tailored to your business
  • Click here to download our Mortgage Impairment application
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