Simplify Home Loan Administration with Blanket Mortgage Hazard Coverage

Coverage for your credit union’s entire mortgage loan portfolio against uninsured physical damage without the aggravation and expense of tracking property insurance.

The beauty of the blanket approach is simplicity. Verify coverage at loan closing, and from that point on, hazard insurance tracking ceases. Compared to the true cost of force-placed insurance (employee tracking & benefits, telephone & mail expense, high force-placed premiums, credit union & member aggravation), blanket is almost always a more affordable means to cover the loan portfolio.


  • Eliminates need for insurance follow-up by simply verifying insurance at loan closing
  • Eliminates need to track and report individual properties and policies
  • Covers uninsured physical damage without loan having to be in default or foreclosure
  • Pays claims at replacement cost versus ACV if credit union opts to repair property
  • Commencing at the start of the policy, the entire current mortgage loan portfolio is insured along with all new loans originated over the course of the next twelve (12) month period.

This policy does not eliminate the credit union’s requirement by FEMA to track and force place flood insurance for those properties located in a Special Flood Hazard Area as identified by a flood determination certificate.

If you are interested to learn more about Mortgage Hazard Coverage, contact:

Beverly MacMillan at | 207-773-0925 Ext: 301 or complete the contact form below:

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