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Mortgage Bankers & Brokers

» Mortgage Company Professional Liability Application (MCPL) and Mortgage Bankers Bond Application (MBB) Combined Application (SUA's London Facility)

» Mortgage Bankers Bond Supplemental Application (Required if applying for MBB; SUA's London Facility)

» Mortgage Company Lending Supplemental Application (Required if any Sub Prime Lending; SUA's London Facility)

» Claim Supplement For Mortgage Company Professional Liability (SUA's London Facility)

» Claim Supplement For Mortgage Bankers Bond (SUA's London Facility)

» Mortgage Company Professional Liability Specimen Policy (SUA's London Facility)

» Special Mortgage Bankers Bond Specimen Policy (SUA's London Facility)

Related Info

Mortgage Banker and Mortgage Broker Insurance Discussion

Mortgage Company Professional Liability

mortgage brokers & bankers

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.

  • Fidelity Coverage for loss from employee dishonesty as well as from closing attorney agent, can also cover Independent Contractors and/or Servicing Contractors.
  • Coverage for theft of mortgage investors and warehouse lenders money or collateral as required by Fannie Mae, Freddie Mac or Ginnie Mae satisfying industry standards and most mortgage investors requirements.
  • Coverage includes specified Investor required Errors and Omissions coverage mostly related to servicing the loan; even though some mortgage bankers do not service loans, this is often still required by most Loan Investors such as Fannie Mae, Ginnie Mae, Freddie Mac and others.

Note that a professional liability policy cannot normally provide this coverage as the coverage requires first party protection in certain cases and most professional liability policies only protect against third party law suits.

















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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