:)I was in the A & B seat, direct endorsement, affiliates and in the SF arena, I know, very unusual, the only reason other doors were opened was due to FDIC, bless their little hearts.Most mortgage brokers on the street are more like a good loan processor on a mild steroid treatment, there are exceptions, but not many. 

Typically it shows up to the lender when you make the change on your insurance policy and the insurance company sends them a notice.As far as your insurance policy, I would recommend that you get pricing on 1 million in liability coverage on your primary policy, typically it is not that much more than the 300K costs, I would definatley follow that up with a min. of 1 million on an umbrella, because the umbrella gives you secondary coverage on all your properties, your vehicles, your rec. vehicles, some business pursuits, and possibley even liable and slander if you have those endorsements on your primary policy.

There are excluded or limited items, such as cash, electronics, collections and such that may need to be looked at specifically and insured by riders or endorsements to a basic policy, if they choose to insure over those limited amounts.The issue for you is the liability coverage they obtain under a tenant's policy, that's the only concern you have and that could reduce your liability issues, so you should check with your agent.Many variables will apply in determining their liability issues and yours as well as how and when your insurance may be affected with any claim arising from negligence of a tenant.

s=digital-text&ie=UTF8&qid=1386366522&sr=1-1&keywords=Private+Real+Estate+Investment%3A+Data+Analysis+and+Decision+Making%3A+Second+editionI haven't read the book yet, so I am not going to endorse it.

I haven't necessarily secured a hearty endorsement from my more seasoned and wiser supervisors.  

I'm not endorsing the practice, rather contributing toward your question.

All three of these aspects should be present in any NRD arrangement.NRD is common when the underlying loan is guaranteed by another underwriter, endorser or guarantor or where any bond or surety is provided.

I suggest you check them out along with other older servicers.I have no business relationship with either entity nor do I endorse their activities, just passing along a couple names in the business. :)

Although I would endorse the ideas above, I would recommend getting your personal financial house in order first.

The primary, if not only, reason there has been a brief spike in subsidized demand for housing in recent months (2012), has been the GSE/FHFA endorsed REO-To-Rental plan, and associated securitization conduits, in which large asset managers have been encouraged to take advantage of government funded, risk-free financing (and entirely bypassing banks who have given up on loan origination due to legacy liability issues which have every bank tied up in litigation from now until Feddom come - just see today's Bank of America results) and purchase foreclosed properties in bulk, with the intention of converting them into rental properties.http://www.zerohedge.com/news/2012-10-17/och-ziff-calls-top-reo-rental-exit-landlord-businessIt is no secret that in addition to the well-known phenomenon of "foreclosure stuffing", one of the primary drivers of the artificial housing "recovery" has been the surge of hedge funds and asset managers into purchases of rental units courtesy of near-zero cost REO-to-rent federal lending facilities, which have taken out distressed inventory from the market in hopes of converting it into rental.