Cenlar filed a Lender Placed Insurance Compliance Certification to Fannie Mae certifying the following:
All lender-placed insurance premiums charged to the borrower or reimbursed by Fannie Mae exclude commissions or payments earned on that policy by the servicer, broker or any affiliated entity, including any incentive-based compensation regardless of its designation as commission, bonus, fees or other types of payments from the servicer’s lender-placed insurance carrier.
The lender-placed insurance carrier for a lender-placed insurance policy is not an affiliated entity of the servicer. This includes any captive insurance or reinsurance arrangements with an affiliated entity.
Fannie Mae received our Lender Placed Insurance (LPI) Compliance Certification however; they require each servicer to also complete the form for their organization. As a result, we ask that you complete the LPI Compliance Certification Formfor your organization and once completed send to Fannie Mae