Event 39 Sample Letters |
  
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Navigation: Appendix A - Merge Field Descriptions (Loans) > Event 39, Insurance Letter (on expiration date) >
Event 39 Sample Letters |
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See the following examples of event 39:
Example 1: Insurance Letter
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST__NAME1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
RE: Loan # <<FORMATTED_LOAN_NUMBER>> Investor Name: <<INVESTOR_NAME>>
<<PROPERTY_ADDRESS_CITY_STATE_ZIP>>
Policy Number: <<POLICY_NUMBER>>
Dear Loan customer,
This will confirm our telephone conversation of Month X, 20XX that insurance coverage is in force on the above captioned property so that we can document our file. Please send the following:
( ) A Binder/Certificate of Insurance effective indicating that coverage is in force;
( ) A current Binder/Policy if the above policy has been re-written; and ( ) A copy of the Reinstatement Notice.
Please mail the required information to FPS GOLD Bank, 1525 West 820 North, Provo, Utah 84601.
If you have any questions regarding this matter, please call us at (555) 555-5555.
Sincerely,
LOAN SERVICING DEPARTMENT
E39/L## |
Example 2: Insurance Letter (Lack of Current Coverage)
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>>
Policy # <<POLICY_NUMBER>>
<<PROPERTY_ADDRESS_CITY_STATE_ZIP>>
Dear Mortgagor(s):
FPS GOLD Bank has received notification that the referenced policy will be cancelled effective __________________. In accordance with your Deed of Trust, adequate insurance coverage must be maintained at all times on the property securing your mortgage loan.
You must provide us with an acceptable replacement policy no later than __________________ in order to pay the premium escrowed funds. If we do not receive the policy by this date, we will procure fire coverage through an agent of our choice in order to cover our interest in the property. Your escrow account will be charged accordingly. We will require a $10.00 substitution fee and paid receipt for the first year’s premium in order to accept any renewal policy received after this date.
Should you require additional information, please contact a Customer service representative of the Loan Servicing Department at (555) 555-5555.
Sincerely,
LOAN SERVICING DEPARTMENT
E39/L## |
Example 3: Insurance Letter (Lapse in Current Coverage)
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
PROPERTY ADDRESS: <<PROPERTY_ADDRESS_LINE1>> <<PROPERTY_ADDRESS_CITY_STATE_ZIP>>
Re: Loan No. <<FORMATTED_LOAN_NUMBER>>
Dear Customer Name:
Our records indicate that we do not have confirmation of current insurance coverage on your automobile, and must assume that no coverage is in effect. Therefore, we have purchased Single Interest Coverage on your automobile as permitted by the terms of our contract. This Single Interest Policy which protects the bank’s interest only is effective for twelve (12) months, starting Month X, 200X.
The cost of the premium, plus finance charge will be financed through this bank. A separate account number under your name will be issued. You will receive a new payment coupon book shortly.
In the event you have obtained coverage, of which we are not aware, please advise us promptly so that we might cancel the policy we have placed. Should you have any questions concerning this matter, please contact us at you earliest possible convenience.
Yours very truly,
John Doe Loan Officer
TAH/mc
E39/L## |
Example 4: Insurance (Cancellation Request of Hazard)
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>>
Policy # <<POLICY_NUMBER>>
HAZARD INSURANCE CANCELLATION REQUEST
Dear Account Holder:
We are enclosing the referenced policy, to be cancelled effective Month X, 200X. This policy has been replaced by policy number _____________.
In order to process the payment for the replacement policy, we require a revised billing statement detailing the total premium, credit for the unearned cancellation premium and the remaining balance due. Please send the revised statement to the attention of _______________ to:
FPS GOLD Bank 1525 West 820 North Provo, Utah 84601
Please refer to the loan number in any correspondence or inquiry regarding this policy.
Should you require additional information, you may contact a Customer Service Representative of the Loan Servicing Department at (555) 555-5555.
Sincerely,
LOAN SERVICING DEPARTMENT
E39/L## |
Example 5: Insurance (Termination of Hazard)
<<EVENT_DATE>>
<<COMPANY_NAME>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
<<PROPERTY_ADDRESS_CITY_STATE_ZIP>>
Our records indicate that hazard insurance coverage on the above-referenced property will be/was terminated on <<APPOINTMENT_DATE>>.
Pursuant to the terms and conditions of your loan, FPS GOLD Bank is to be provided with evidence of insurance at all times. If we do not receive this by <<DATE_OF_LAST_CHECK>>, it will be necessary for us to obtain coverage through a company of our choice and your mortgage payment may be increased to pay the premium due.
Should you or your agent require assistance in this matter, please contact our Loan Servicing Department at (555) 555-5555.
Sincerely,
INSURANCE DEPARTMENT
E39/L## |