Yet not, an effective servicer might provide instance info to help you a borrower towards the age transmittal
(iv) A statement that desires the fresh debtor to incorporate issues insurance policies advice toward borrower’s possessions and you may relates to the home by the real address;
step 1. Distinguishing type of possibilities insurance policies. In the event the terms of a mortgage offer demands a borrower to get each other an effective homeowners’ insurance coverage and a different sort of possibility insurance coverage in order to insure facing losings resulting from perils maybe not protected in borrower’s homeowners’ insurance policy, an effective servicer must disclose should it be brand new borrower’s homeowners’ insurance policy or perhaps the independent possibility insurance policy wherein it lacks proof of visibility so you can comply with § (c)(2)(v).
