“What is lender-placed insurance?” is a common question our customers ask. Maybe you’ve never heard of it. Maybe you’ve heard of “creditor-placed” or “force-placed” insurance. Maybe you have it and you’re wondering why you do.
Other lender-placed insurance questions we hear include:
- Why is lender-placed insurance necessary?
- How does it work?
- Can I cancel it?
We’ve put together some general answers to these and other questions about lender-placed insurance or LPI. Visit our new Understanding Lender-Placed Insurance page in the Mortgage Topics in Depth section of the website.