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Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(c)(2)
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Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(d)(2)(i)
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Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(d)(2)(ii)
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Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(e)(2)
6-1440.31
MS-3(A)—Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(c)(2) [Name and Mailing Address of Servicer]
[Date of Notice]
[Borrower’s Name]
[Borrower’s Mailing Address]
Subject: Please provide insurance information for [Property
Address]
Dear [Borrower’s Name]:
Our records show that your [hazard] [Insurance Type] insurance [is
expiring] [expired] [provides insufficient coverage], and we do not
have evidence that you have obtained new coverage. Because [hazard]
[Insurance Type] insurance is required on your property, [we bought
insurance for your property] [we plan to buy insurance for your property]. You must pay us for any period during which the insurance we buy
is in effect but you do not have insurance.
You should immediately provide us with your insurance
information. [Describe the insurance information the borrower must
provide]. [The information must be provided in writing.]
The insurance we [bought] [buy]:
• May be significantly more expensive than the insurance
you can buy yourself.
• May not provide as much coverage as an insurance
policy you buy yourself.
If you have any questions, please contact us at [telephone
number].
[If applicable, provide a statement advising a borrower
to review additional information provided in the same transmittal.]
6-1440.32
MS-3(B)—Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(d)(2)(i) [Name and Mailing Address of Servicer]
[Date of Notice]
[Borrower’s Name]
[Borrower’s Mailing Address]
Subject: Second and final notice—please provide insurance information
for [Property Address]
Dear [Borrower’s Name]:
This is your second and final notice that our records
show that your [hazard] [Insurance Type] insurance [is expiring] [expired]
[provides insufficient coverage], and we do not
have evidence that you have obtained new coverage. Because [hazard]
[Insurance Type] insurance is required on your property, [we bought
insurance for your property] [we plan to buy insurance for your property]. You must pay us for any period during which the insurance we buy
is in effect but you do not have insurance.
You should immediately provide us with your insurance
information. [Describe the insurance information the borrower must
provide]. [The information must be provided in writing.]
The insurance we [bought] [buy]:
• [Costs $[premium charge]] [Will cost an estimated
$[premium charge]] annually, which may be significantly more expensive
than insurance you can buy yourself.
• May not provide as much coverage as an insurance
policy you buy yourself.
If you have any questions, please contact us at [telephone
number].
[If applicable, provide a statement advising a borrower
to review additional information provided in the same transmittal.]
6-1440.33
MS-3(C)—Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(d)(2)(ii) [Name and Mailing Address of Servicer]
[Date of Notice]
[Borrower’s
Name]
[Borrower’s Mailing Address]
Subject: Second and final notice—please provide insurance
information for [Property Address]
Dear [Borrower’s
Name]:
We received the insurance information you
provided, but we are unable to verify coverage from [Date Range].
Please provide us with insurance information for [Date
Range] immediately.
We will charge you for insurance we [bought] [plan to
buy] for [Date Range] unless we can verify that you have insurance
coverage for [Date Range].
The insurance we [bought] [buy]:
• [Costs $[premium charge]] [Will cost an estimated
$[premium charge]] annually, which may be significantly more expensive
than insurance you can buy yourself.
• May not provide as much coverage as an insurance
policy you buy yourself.
If you have any questions, please contact us at [telephone
number].
[If applicable, provide a statement advising a borrower
to review additional information provided in the same transmittal.]
6-1440.34
MS-3(D)—Model Form for Force-Placed
Insurance Notice Containing Information Required by Section 1024.37(e)(2) [Name and Mailing Address of Servicer]
[Date of Notice]
[Borrower’s Name]
[Borrower’s Mailing Address]
Subject: Please update insurance information for [Property Address]
Dear [Borrower’s Name]:
Because
we did not have evidence that you had [hazard] [Insurance Type] insurance
on the property listed above, we bought insurance on your property
and added the cost to your mortgage loan account.
The policy that we bought [expired] [is scheduled
to expire]. Because [hazard] [Insurance Type] insurance] is required
on your property, we intend to maintain insurance on your property
by renewing or replacing the insurance we bought.
The insurance we buy:
• [Costs $[premium charge]] [Will
cost an estimated $[premium charge]] annually, which may be significantly
more expensive than insurance you can buy yourself.
• May not provide as much coverage
as an insurance policy you buy yourself.
If you buy [hazard] [Insurance Type] insurance, you should
immediately provide us with your insurance information.
[Describe the insurance information
the borrower must provide]. [The information must be provided in writing.]
If you have any questions, please contact us at [telephone
number].
[If applicable, provide a statement advising a borrower
to review additional information provided in the same transmittal.]
