Professional Liability Insurance for Mortgage Bankers & Mortgage Brokers

Stateside Underwriting Agency offers one of the most complete packages of specialty risk and investor required insurance for the mortgage industry. We offer Professional Liability, Fidelity/Crime Bond, Mortgage Impairment and Employment Practices Liability. Our program is tailored to the individual risk and offers limits up to $3,000,000 of in house authority and up to $60 million of limits have been placed when required for our larger clients.

Products

• The Mortgage Company Professional Liability (MCPL)
  
  The Mortgage Company Professional Liability (MCPL) policy protects against possible losses from suits mainly in the area of loan origination. This can include the loan application process, loan processing, underwriting, closing, Secondary Market sales, servicing, and loan foreclosure. The Stateside Professional Liability Policy covers a firm’s legal liability for wrongful acts made in providing professional services performed as a mortgage banker or mortgage broker. » Read more
  
  
• The Mortgage Bankers Bond (MBB)
  
  The Mortgage Bankers Bond (MBB) was developed for Mortgage Companies and provides Fidelity Crime Bond Protection. Employee dishonesty and Investor Required "E&O" are the two key coverages required by most "Investors", but the bond also includes forgery protection, transit loss protection and other coverages. » Read more
  
  

Mortgage Banker and Mortgage Broker Insurance Discussion

• This discussion provides an overview of the mortgage banking and mortgage brokering industry by highlighting the distinctions between mortgage holders errors and omissions, mortgage impairment, forced placed coverage, mortgage banker bond, mortgage banker E&O, and custodial errors and omissions (custodial E&O). » View the full article

CLAIM DETERMINATION...Any claim is subject to the actual policy wording/endorsements and the coverage for a claim shall be determined using the policy wording.

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