Bankers Insurance Service - Mortgage Investor Bond
Mortgage Investor Bond
Downloadable Forms
MIB Product Fact Sheet [PDF]
Mortgage Banker/Broker Insurance Needs [PDF]
Bankers Insurance Service Product Guide [PDF]     
Who to Contact
Tom Delaney
P: (312) 381-3722
Sam Ackerman
Chief Underwriting Officer
P: (312) 381-3770
Product Details
The Mortgage Investor Third-Party Fidelity Policy includes coverage for dishonest and fraudulent conduct by Mortgage Bankers/Brokers as well as providing an expansive Fraudulent Mortgages coverage for loans from third-party originators and counterparties that a Mortgage Investor would engage and contract with to fund mortgage loans.

The Policy includes two primary insurance clauses: Fidelity and Fraudulent Mortgages.

The Fidelity clause covers the dishonest acts of third-party mortgage bankers and brokers with whom the Mortgage Investor has a contractual relationship to fund or purchase loans. The policy form is specifically designed to protect the Mortgage Investor when a mortgage banker/broker is directly involved in a mortgage fraud scheme that results in a loss to the Mortgage Investor.

This is a unique extension of coverage as traditional fidelity bonds limit coverage to the dishonest acts of employees of the insured entity only.

The Fraudulent Mortgage clause provides a much more comprehensive grant of coverage for fraudulent mortgages than traditionally found in fidelity bonds. This clause insures direct financial loss to the Mortgage Investor resulting from the mortgage banker/broker having reasonably relied upon certain dishonest or misleading documents in the decision to underwrite or fund a mortgage loan.

This coverage is very broad and accordingly is underwritten on a catastrophic basis with seven figure deductibles and eight figure limits.

We can offer limits up to $100,000,000 through our Mortgage Investor Third-Party Fidelity Program with higher limits available based upon client needs and market conditions.

If you would like additional information, please contact Tom Delaney

a division of Financial & Professional Risk Solutions, Inc.TX Lic# 15890 In California: FPR Insurance Solutions, Inc. (License No.: 0G83953)