Mortgage Protection

ABA Insurance Services offers two Mortgage Protection Products tailored to community banks:

  • Mortgage Errors and Omissions (MEO)  covers the bank against errors and omissions related to the bank's handling of physical damage insurance and homeowners insurance covering the real property of borrowers. Mortgage Impairment protects the bank when a mortgage becomes impaired (i.e. goes into default) and property insurance is uncollectable, insufficient, or nonexistent.
  • Force Placed/Foreclosed Property is a standalone, comprehensive program for foreclosed and force placed properties designed to insulate your P&C package from foreclosed property and liability losses while managing the insurance risk for the life cycle of a loan. Our internet-based reporting system, makes scheduling and tracking easy, minimizing administrative costs.
Notwithstanding any language to the contrary, nothing contained herein constitutes nor is intended to constitute an offer, inducement, promise, or contract of any kind. All coverage descriptions and claims examples are provided for informational and educational purposes only and are not a representation as to coverage for any particular claim and are not represented to be error free. Coverage for any claim is determined upon the specific facts of the claim, the terms and conditions of the policy and applicable law. For details on the coverage provided by your specific contract of insurance, please refer to your policy. Coverage is subject to underwriting guidelines and may not be available in all states. Limits may be capped for underwriting reasons. Any links to any sites which are not originated by ABA Insurance Services Inc. (ABAIS) are provided only as a courtesy and are not intended to nor do they constitute an endorsement by ABAIS of the linked materials.