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Mortgage Brokers / Bankers Preferred Concepts LLC places professional liability and Errors & Omissions (E&O) coverage for mortgage brokers and mortgage bankers through Mercator Risk Services. The program is designed for producers who need professional liability solutions for real-estate-related lending professionals — including accounts that are routine as well as those that are hard to place or have previous loss activity. Overview of the Program Mercator Risk Services provides underwriting and placement for a broad range of mortgage broker and mortgage banker exposures. The program addresses the practical errors and omissions risks that arise from the loan transaction lifecycle — from application and appraisal to closing and servicing. Preferred Concepts LLC can help you evaluate submissions and route accounts to Mercator for consideration. Common Claims & Exposures Errors by the mortgage broker or banker in loan origination or documentation Errors in closing or settlement services Mortgage servicing mistakes (payment posting, escrow handling, etc.) Failure to order, obtain, or properly document appraisals Failure to obtain or maintain required hazard insurance Ideal Accounts and Appetite This program fits: Independent mortgage brokers and broker-dealers arranging residential or small commercial loans Mortgage bankers that originate and service loans on behalf of lenders Accounts with complex placement needs — including distressed, financially impaired, or previously litigated accounts Typically acceptable: standard E&O risks as well as hard-to-place accounts with prior claims or financial impairment. Accounts that fall outside underwriting appetite will be identified during submission review. Coverage Highlights and Advantages Professional liability / Errors & Omissions coverage tailored to real-estate lending professionals Ability to consider accounts with prior claims or financial challenges Flexible underwriting — Mercator can often work from an application you already have or provide a tailored application for the account Access to multiple carrier relationships through Mercator’s wholesale platform Underwriting Notes Mercator can typically start with an existing application (except in the case of renewals) or supply a specialized application when needed. Disclose prior claims, regulatory actions, and financial impairment up front to accelerate placement. Hard-to-place accounts are handled case-by-case; clear, complete submissions with supporting documents improve chances for placement. Territories and Availability Available through Preferred Concepts LLC / Mercator Risk Services in the following jurisdictions: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. Example Account Scenarios You have a small mortgage brokerage that sources residential loans for multiple lenders and needs E&O coverage after a borrower alleged appraisal-related errors — Mercator’s program may consider the account, including prior allegations. A mortgage banker with in-house servicing has a history of an escrow mishandling claim; you need a market that will review the facts and consider placement despite prior loss — this program handles such hard-to-place files. Why Place This Business With Preferred Concepts LLC Preferred Concepts LLC provides access to Mercator Risk Services’ specialty underwriting for mortgage brokers and bankers. That means you get a wholesale platform experienced with professional liability for lending professionals, flexibility to submit unusual or distressed accounts, and support through the underwriting process. Hard to Place: Mercator routinely handles hard-to-place, distressed, and unusual accounts — including those with prior claims or financial impairment. Tell us about your client’s needs and we’ll help determine the best submission approach and coverage options. For more information, please call (860) 527-9717 or send an e-mail to [email protected]. You can get additional information on their products, insurance applications, and Specialty Lines insurance information on their Web site www.mercatorpro.com. Frequently Asked Questions What types of accounts are a good fit for this program?Accounts that typically fit include independent mortgage brokers and mortgage bankers involved in origination, closing, or servicing. The program is also suited for hard-to-place accounts with prior claims or financial impairment, provided the submission includes full details. Can Mercator consider accounts with prior claims or regulatory actions?Yes. Mercator regularly reviews accounts with prior claims or regulatory issues. Provide complete loss histories, regulatory documentation, and remediation steps in your submission to give the underwriter the best context. What documentation should I include with a submission?Include a current application, loss runs, copies of any regulatory correspondence, sample engagement letters or contracts, and details on corporate structure and servicing practices. If you have a client application already prepared, Mercator can generally start from that form. Are there state restrictions or licensing requirements I should be aware of?Availability is broad across the listed states, but individual underwriting may consider state-specific licensing or regulatory histories. Submit the client’s licensing information and any relevant state actions to speed review. Need help placing an account? Connect with a market specialist.

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