You can learn more about the standards we follow in producing accurate, unbiased content in our. A lender would not lend a substantial amount of money secured by property without the inclusion of a mortgagee clause in the borrowers property insurance policy, so they are an important part of your mortgage and property insurance contracts. Yes! In some cases, if its not a requirement to get a mortgagee clause, then a borrower must contact a lender to add the clause to their current contract. P. O. 2022 Fortune Media IP Limited. RP Funding, Inc. Copyright 2023 BluePoint Mortgage | 4000 MacArthur Blvd., West Tower 7th Floor, Newport Beach, CA 92660 | 877.267.1056 | NMLS ID# 320004 (NMLS Consumer Access), BRE# 01403107 | Program rates and parameters are subject to change without notice. We provide the following: Get in touch with us for more information. Contact the customer service We are committed to the success of our partnerships, the strength of our organization, and the health and happiness of our employees. Contact Me Qualify your borrower using 12 months of business or personal bank statements. A mortgagee clause ensures that if your property is damaged while you are paying off the mortgage, the insurance company will pay your mortgage lender for this loss, even though its covered on your insurance policy. RP Funding is rapidly growing and expanding into new territories. No personal income is required. We invite you to become an approved broker and enjoy a level of service that is unrivaled in wholesale lending. P. O. 2266 0 obj <>/Filter/FlateDecode/ID[<90567730755E954CB5EA5D4E7C97BB47>]/Index[2252 26]/Info 2251 0 R/Length 87/Prev 957655/Root 2253 0 R/Size 2278/Type/XRef/W[1 3 1]>>stream If you received a letter from New American Funding and would like to be removed from our mailing list, please call 800-450-2010. BluePoint Mortgage also offers Non-QM solutions for your underserved borrowers, such as small business owners, investors, and self-employed individuals. New American Funding makes Customer Service our number one priority. RPF's Correspondent channel, offers both Conventional and Government Products with competitive pricing and a quick and simple purchase process to serve sellers. If you are using a screen reader or other auxiliary aid and are having problems using this website please call 800-450-2010 Ext. *https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3751917. department at 877-586-4271 (Se Habla Espanol), or email at[emailprotected]. Credit life insurance is a policy designed to pay off a borrower's debt if the borrower dies. RPF has engineered its Connect portal to be a seamless user upload experience. We provide the following: Mortgage Loan Processing Services. RP Funding, Inc. If you cant keep that promise, then your lender (the mortgagee) can foreclose on the property and sell it to recoup costs. This clause also protects the lender if you cause damage to the property, which leads the insurance provider to cancel the policy. He has helped me and my family with our real estate needs. Our customer service representatives are standing by to assist you. 2021 Royal Pacific Funding - All rights reserved. 2023 New American Funding, LLC. A mortgagee clause is a part of your homeowners insurance policy that protects your lenderthe mortgageefrom losses incurred due to damage to your property. Over the years, RPF has evolved into a premier lender with its wholesale channel operating under Bluepoint Mortgage - a wholly owned subsidiary of Royal Pacific Funding Corp., and a FNMA . Mortgagee clauses provide valuable protection for lenders because of the way that mortgages work. RPF offers commitment, experience and partnership to its clients giving them the liquidity options they seek in order to operate at their competitive best and to increase profitability.
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