Event 32 Sample Letters |
  
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Navigation: Appendix A - Merge Field Descriptions (Loans) > Event 32, Insurance Letter (before expiration date) >
Event 32 Sample Letters |
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See the following examples of event letter 32:
Example 1: Insurance (Expiration of Hazard)
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<COMPANY_ADDRESS_1>> <<COMPANY_ADDRESS_2>> <<COMPANY_CITY_STATE_ZIP>>
Your hazard insurance policy will expire on the date indicated above. Your mortgage loan agreement requires that you provide us with a renewal policy prior to expiration.
To date, we have not received a renewal policy from your insurance agent. If you have not received a renewal notice, please have your agent or company send us a renewal policy immediately and advice them of the proper mortgage clause as follows:
GOLDPoint Systems Finance Company Its Successors and/or Assigns 1525 West 820 North Provo, Utah 84601
If your loan does not provide an escrow account for hazard insurance, please forward evidence of coverage immediately. If we do not receive a renewal policy within fifteen (15) days or by the date of expiration, we will purchase a fire policy in the amount of your principal balance to protect our interest in the property. Your escrow account will be charged accordingly. If you do not have an escrow account, one will be created for you. Any renewal policy received after we have issued fire coverage, with an agent of our choice, must be accompanied by a paid receipt for the first year, plus a $10.00 substitution fee.
Should you require additional information, please contact us at (555) 555-5555.
Sincerely,
LOAN SERVICING DEPARTMENT
E32/L## |
Example 2: Insurance (Loan Paid in Full)
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>>
Policy # <<POLICY_NUMBER>>
Dear Account Holder:
We are returning the above mentioned policy. This loan has been paid in full and GOLDPoint Systems Finance Company no longer receives mortgage payments from the insured on this loan.
Sincerely,
LOAN SERVICING DEPARTMENT
E32/L## |
Example 3: Lapse in Coverage
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
PROPERTY ADDRESS: <<PROPERTY_ADDRESS_LINE1>> <<PROPERTY_ADDRESS_CITY_STATE_ZIP>>
Re: Loan No. <<FORMATTED_LOAN_NUMBER>>
Dear Borrower(s):
We have received the new policy/binder from _________________ effective <<APPOINTMENT_DATE>> and have cancelled the Rocky Mountain Insurance Company policy as of that date.
Due to the lapse in coverage from ______________ to ___________, we are charging your loan for $______________, which represents the earned premium on the Rocky Mountain Company policy. The amount of $_______________ must be included with your net payment.
If you have any questions regarding this matter, please do not hesitate to contact our Loan Service Department at (555) 555-5555.
Sincerely,
Jane Doe Loan Service Representative
E32/L## |