We provide the Mortgage industry with piece of mind by insuring against a repurchase due to Fraud!!
Mortgage Repurchase Liability Insurance
What it is
Protects mortgage originator from losses stemming from loans contractually required to be repurchased by the investor.
Losses covered
Scratch and dent
Foreclosures
Short-sale
Types of loans covered
Both QM and non-QM loans.
Cost
Varies, as it depends on portfolio composition, volume, and policy limits. However, it is negligible as it is typically passed through and is less than the cost of loss reserves.
Types of companies covered
Warehouse lenders
Wholesale lenders
Correspondent lenders
Independent mortgage bankers
Bank and Credit Unions
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