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Real Estate Owned Property (also known as REO) provides lenders with either Named Peril or All Risk physical damage for any portion of their portfolio of owned properties, foreclosed properties, and properties in the process of foreclosure. Coverage may also extend to properties held in trust for others. Real Estate Owned (REO) Property Insurance is available on an admitted basis in all states for all types of residential and commercial property. Unique and customized program are available on a surplus lines basis in any state. Our Real Estate Owned (REO) Property Insurance program offers a wide variety of limits, deductibles and coverage options. Standard Limits of Liability are $1,000,000 per location. Limits up to $10,000,000 or greater are available. Real Estate Owned (REO) Property Insurance may be purchased on either a stated value or total insurable value. Real Estate Owned (REO) Property Insurance may be purchased on either a replacement cost or actual cash value basis; with or without co-insurance penalties. Real Estate Owned (REO) Property Insurance coverage may be term, annual, monthly with various billing options. Optional coverage to the basic Real Estate Owned product include:
Great American can customize a Mortgage Fire Insurance program to meet a lender’s specific needs. Click
Here for Real Estate Owned Property Insurance Application |