HOME PAYMENT PROTECTION

LENDER PROGRAM

Are you a lender looking
for an edge in
today’s
competitve marketplace?

Lenders can now include Home Payment Protection ('HPP') with select mortgage products. HPP protects servicers against default when borrowers face a hardship and are unable to make their monthly payment. HPP is available for owner-occupied single-family mortgages.

HPP provides up to 3 full months of payment protection when customers are unable to make their monthly mortgage payments. Applied Assurance offers servicers relief in case of customer default. HPP reduces default risks due to customer hardships keeping on-time payment history intact.

HPP also protects borrowers.

HOW DOES IT WORK?

Housing payment protection for single-family mortgages

Premiums may be included as a qualified closing cost

Market as a benefit
to first-time
homebuyers

Customer pays only 50% of the regular payment, you are covered for
the rest

Default insurance for up to 3 monthly payments for every 3 year term

Protects against servicing advances in case of default

WHAT’S COVERED

Mortgage payments up to 6 payments
over 36-month term

Payment default up to 3 monthly
payments
per occurrence

Term equal to 36 months, renewing

Payments protected for loss of life,
disability, job loss, reduction in income,
and natural disasters

Multiple deductible options available

WHAT OUR PARTNERS SAY

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Home Payment Protection gives our agency confidence that we are responsibly setting up our customers for the future. HPP helps prevent unanticipated defaults due to life events like job loss or furlough.


SUSAN

HOUSING FINANCE AGENCY

As a counselor, when you're working with someone who calls in desperate because they can't make ends meet, every possible resource you have is meaningful... it's such an amazing relief for those clients that have this coverage.


JACKIE

NONPROFIT COUNSELING

Applied Assurance sets the standard in payment protection and helps us be more confident in the stability of our servicing portfolio. HPP delivers a much needed tool to assist us in mediating hardships.


BRENDA

LENDER & SERVICER