News & Analysis as of

Property Insurance Mortgage Servicers

Bradley Arant Boult Cummings LLP

Property Insurance Claims and Loss Drafts: Mortgage Servicer Obligations Under the GSE Security Instrument

As homeowners file insurance claims for property damage following Hurricane Ida and with Hurricane Larry threatening the northeast coast, mortgage servicers are facing an influx of insurance proceeds or loss draft funds. To...more

Bradley Arant Boult Cummings LLP

Regulators Release Updated Examination Procedures for Acceptance of Private Flood Insurance

The final rule promulgated by the Board of Governors of the Federal Reserve (Federal Reserve), the Farm Credit Administration, the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration, and...more

Bradley Arant Boult Cummings LLP

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part III

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing property damage and applying insurance proceeds in compliance with the terms of the standard mortgage...more

Bradley Arant Boult Cummings LLP

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part II

In the first part of the series “The Mortgage Servicer’s Role in Navigating Insurance Claims,” we covered assessing the damage in the wake of a natural disaster and applying the proceeds when complying with the terms of...more

Bradley Arant Boult Cummings LLP

After the Waters Recede: The Mortgage Servicer’s Role in Navigating Insurance Claims, Part I

Following the recent hurricanes that have damaged many homes beyond repair, borrowers may seek to apply any available insurance proceeds to satisfy the outstanding balance on their loans rather than repair the property....more

Bradley Arant Boult Cummings LLP

How to Protect Yourself from Financial Disaster in the Wake of a Natural Disaster

In light of Hurricane Harvey and all the damage that it caused, as well as the potential damage that may be inflicted by Hurricane Irma, the Consumer Financial Protection Bureau (CFPB) has provided advice on measures to take...more

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