Lender Placed Flood Insurance
In the primary insurance layer, coverage must be available to protect the lender if the borrow is unable or unwilling to maintain required flood insurance. This coverage protects dwellings and other structures for the peril of flood up to the outstanding loan balance. In addition, coverage is available for debris removal, loss avoidance measures (sandbags, pumps, labor etc), loss assessment from associations, increase cost of compliance by government agencies, temporary housing expenses.

This insurance is administered using the Miniter - Flood System. This system enables the lender to track homeowners flood insurance, generate letters to the borrower regarding lapses in coverage, allow the lender to place flood insurance for both mortgaged and REO properties, and provide simple monthly billing to the lender