Processors liability policy

The PLP product protects the lender from loan losses involving second mortgages, both closed and open-ended. In the event of default, the second lienholder may be prevented from obtaining possession of the property in question due to a first mortgage or an undisclosed lien present at the time of loan origination. With the protection in place, the lender can close a second mortgage loan without a costly title search, while expediting the loan processing time for your borrowers.

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