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How is REO Builders Risk Insurance implemented at a lending institution?

April 26, 2017builders implemented institution Insurance lending REO risk

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How is REO Builders Risk Insurance implemented at a lending institution?

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REO Builders Risk Insurance is one of a suite of coverages available to lenders as part of Construction-to-Perm (C2P) Insurance. REO Builders Risk may only be provided to lenders offering the C2P Insurance program. The program is initiated by completing a one page application for the blanket policy. There are no setup fees or premium deposits for the policy. Premium costs are incurred as partially completed foreclosed homes are added to the blanket policy. The entire implementation process can be accomplished in a matter of hours.