Understanding LD and Insurance

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Across
  1. 3. We need the borrower's affidavit for ______ loans.
  2. 7. An account used to pay insurance and taxes.
  3. 9. _____________ adjusters represent the borrower, unlike a regular insurance adjuster
  4. 11. The total issued by the insurance company after the deductible & depreciation have been removed from the Replacement Cost Value
  5. 13. A Dwelling May pay to repair/rebuild a home.
  6. 14. A borrower is also known as a _______
  7. 15. A ______ ( also known as a homeowner) is the person who took out the loan with the lender.
  8. 21. The _____ (also known as the mortgage company) is responsible for monitoring and keeping track of the loan.
  9. 23. The value of a property that is lost over time due to factors such as age and wear and tear.
  10. 24. Lender placed insurance disadvanatges are higher costs and _____ ___ ______.
  11. 26. We need the ____ _____ _____ and ask that the borrower endorse it prior to mailing it.
  12. 27. The _____ established in 2010 as a government watch dog organization monitoring financial institutions and their treatment of the American people
  13. 28. a detailed assessment of everything the adjuster finds during their investigation to support the insurance company’s liability regarding paying out the claim.
  14. 29. A list of materials needed to complete the repairs
  15. 30. A tax document that is needed to make the contractor a payee on the check.
Down
  1. 1. Documents that show what has been paid for by a borrower out of-pocket.
  2. 2. The amount the insured is responsible for in case of a loss
  3. 4. a binding agreement between a borrower and a lender providing terms of repayment for a new debt that is secured by real estate.
  4. 5. The value of the damaged or destroyed item(s) at the time of the loss.
  5. 6. In this process, we deposit the funds in the restrictedescrow and send the funds back in disbursements.
  6. 8. A document stating that the contractor agrees they have been paid, and based on that payment, they waive their right to put a lien on the house for what they have been paid so far. If paid in full, they waive their right to place a lien com
  7. 10. A document the borrower fills out that states they intend to use the claim funds to repair the home
  8. 12. An estimate from the contractor signed by the borrower listing all repair to be done.
  9. 16. An examination of the condition and safety of the home.
  10. 17. This term refers to the check that is issued by an insurance company for damages suffered to a property.
  11. 18. This is a letter stating the homeowner would like to do the repairs themselves.
  12. 19. We need the W-9 for loans that are in _______.
  13. 20. _____ is protection from loss, harm, theft or damages
  14. 22. The actual cost to replace a structure at its pre-loss condition
  15. 25. In this process, we can endorse the claim check and send it back to the borrower so they can cash it