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Mortgage Repurchase Insurance
What it is
Protects mortgage originator from losses stemming from loans contractually required to be repurchased by the investor.
Losses covered
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Scratch and dent
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Foreclosures
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Short-sales
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
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Warehouse lenders
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Wholesale lenders
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Correspondent lenders
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Independent mortgage bankers
What is needed for a proposal
Complete the fields below or contact us.
We can be reached at 405-456-9854 or info@paymentins.com
*Insurance policies backed by carriers rated "A" or better by A.M. Best
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