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Updated almost 6 years ago on . Most recent reply
Forced Place Insurance Provider
Hey
I have recently bought a non performing 1st mortgage, it appears that insurance is not being paid for, and it will take some time before the loan will be boarded by my loan service company so I would like to get forced place insurance until that happens. Can anyone recommend a good provider for that?
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1. You can have your servicer provide it if it is a single note.
2. Ross Diversified (mentioned above) as well as JB Lloyd. I prefer JB Lloyd because they allow you to easily add and remove properties and you can pay by the month versus having to pay a full year upfront. When you have a lot of loans having ability to use their system I find to be easier to manage my business.
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