PFI’s Mortgage Guard program offers comprehensive Lender-Placed and REO Hazard Insurance solutions designed to protect financial institutions when borrowers fail to maintain adequate property insurance. Delivered through Proctor Loan Protector, a trusted Managing General Agency, this flexible program ensures your clients’ portfolios maintain continuous coverage on residential, commercial, REO, and mobile home properties.
This program is ideal for banks, credit unions, mortgage servicers, and other financial institutions seeking to mitigate risk and protect their collateral interests. Whether you're working with residential homes, commercial buildings, or mobile homes, Mortgage Guard provides an efficient way to maintain compliance and reduce exposure across all 50 states and D.C.
Ideal Accounts and Appetite
Mortgage Guard is tailored for institutions managing large property portfolios where lapses in borrower insurance can expose them to financial loss. The program is a strong fit for:
- Residential mortgage portfolios (occupied or vacant)
- Commercial real estate portfolios
- REO (Real Estate Owned) properties
- Mobile home portfolios
Example: You might have a client who services a portfolio of residential investment properties across several states. If one of their borrowers allows coverage to lapse, this program steps in with immediate, all-risk lender-placed protection.
Coverage Highlights and Advantages
Mortgage Guard provides broad and customizable protection. Key features include:
- All-risk Lender-Placed and REO Hazard Insurance, including wind coverage
- Named perils or all-risk options for commercial property
- Optional coverages: liability, flood (via Bridge60), vacant theft, and more
- Claims paid at replacement cost—even if the property is not repaired (mobile homes at ACV)
- No individual property underwriting under a master policy structure
- Web-based hazard tracking and reporting tools
- Flexible billing and borrower notification options
- Pro-rata premium refunds for canceled policies
- Proprietary client portal for vendor oversight and management
Underwriting Notes and Minimum Premiums
To submit business, agents must provide:
- A completed application
- Three years of loss runs
- A full portfolio list
- A current in-force insurance list
Minimum premium varies depending on the portfolio and coverage selections. Contact PFI for underwriting guidance and program-specific pricing.
Territories and Availability
Mortgage Guard is available in all 50 states and Washington, D.C., on a non-admitted basis. With access to multiple exclusive carriers rated “A” or better by A.M. Best, PFI delivers stability and strength across a wide geographic footprint.
Why Work With Proctor Loan Protector?
Proctor Loan Protector, a division of PFI, brings decades of experience managing lender-placed insurance programs. Their deep understanding of the mortgage servicing space, combined with strong carrier relationships and advanced technology platforms, makes them a valuable resource for agents and brokers placing coverage on behalf of financial institutions. Their flexible program design, responsive service, and proprietary tools help streamline the placement process and deliver real value to your clients.
Frequently Asked Questions
What types of accounts are a good fit for this program?
This program is ideal for financial institutions such as banks, credit unions, and mortgage servicers with portfolios of residential, commercial, REO, or mobile home properties.
Is individual underwriting required for each property?
No. The program operates under a master policy structure, so individual property underwriting is not required.
What optional coverages are available?
Optional coverages include liability, lender-placed flood (via Bridge60), vacant theft, and more, allowing for a comprehensive risk management solution.
In which states is this program available?
The Mortgage Guard program is available in all 50 states and Washington, D.C.
What documentation is required to submit a new account?
Submission requirements include a completed application, 3-year loss runs, a portfolio list, and a current list of in-force insurance policies.
Need help placing an account? Connect with a market specialist.