If we do not have proof of insurance, we will obtain an insurance policy for dwelling coverage only (not additional contents or liability). As the Mortgage Servicer, we do this to protect the Lender’s interest in your property. The premium is paid from escrow. We send written notice of our intent to obtain insurance, which is authorized by your Mortgage. After insurance is established, we will cancel the policy when we receive proof of coverage on your own privately placed policy. There is premium charge for the insurance policy obtained by SFN for any days your insurance was not in effect.
