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Old 10-20-2011, 02:00 PM
 
Location: Ashburn, VA
989 posts, read 2,718,846 times
Reputation: 655

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I am in the process of refinancing. Last I heard, my paperwork had gone to the underwriters. Hoping to close by the end of the month but who knows... Appraisal is done, all requested documents are in. So today I got a new declaration of insurance from my homeowners insurance policy reflecting the new mortgage provider. We haven't closed, yet. Is this weird or normal?
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Old 10-21-2011, 06:22 AM
 
Location: Plano, Texas
1,675 posts, read 6,807,456 times
Reputation: 697
Yes..to get final approval the mortgagee clause that identifies the lender must be changed on your policy. If for some reason the loan doesnt close, the old mortgagee clause will return to policy.
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Old 10-21-2011, 07:20 AM
 
Location: Ashburn, VA
989 posts, read 2,718,846 times
Reputation: 655
Thanks. I didn't know what to think about that. I appreciate the answer.
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Old 07-26-2017, 08:39 PM
 
1 posts, read 1,890 times
Reputation: 10
Should the change in the mortgagee on the home insurance occur before final approval and confirming appraisal value in a refi
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