REAL ESTATE (FORCED ORDER FIRE) COVERAGE

Forced Order Hazard

FICOR offers competitive, and desirable coverage through an established, financially sound insurance carrier to protect Real Estate Property and REO Property.

We know that prompt, fair claim payments mean customer satisfaction.

Our tracking system, Sure-Track™, can handle first and second mortgage loans and mortgage lines of credit and equity loans separately with separate reporting and billing if needed. It also integrates seamlessly with our flood tracking system, and collateral protection program.

Borrowers are made aware of their insurance requirements through letter notification, and if they should default in providing adequate insurance on their property, we provide a forced order hazard certificate to protect the lender’s interest in the property. FICOR provides all notifications for the lender with reports to manage this insurance monitoring function.

Eligible Risk: Residential (Dwelling), Commercial Property, Second Mortgages, Home Equity and Mortgage Lines of Credit.

Limits of Liability:

· Residential: $5,000,000
· Commercial: $5,000,000
· Second: $300,000
· Home Equity: $300,000

If your internal tracking program has identified un-insured properties, we can issue coverage immediately upon your request.