The mortgagee clause is the exact name and address that should be listed as the beneficiary (loss payee) on your property insurance policy when financing with New Silver.
Please use the following wording:
New Silver Lending LLC
ISAOA/ATIMA
28 N Main St, Suite 202
West Hartford, CT 06107
Why this is required
Your insurance provider uses the mortgagee clause to ensure New Silver is properly listed as the beneficiary on the policy. This protects both you and the lender in the event of property damage, a claim, or a loss during the loan term.
When to provide this
Your insurance agent will typically request this information when issuing:
Builder’s risk insurance
Dwelling or hazard insurance
Rental property insurance
Property insurance renewals or updates
Make sure your provider lists this mortgagee clause exactly as shown above to avoid delays at closing or during underwriting.