On an insurance binder,What do I say in the mortgagee spot if there is no mortgage?

C W · #1 (**permalink**) 06-12-2007, 10:09 PM

I'm having trouble filling out an insurance binder. What am I legally supposed to put in the mortgagee section if the home is free and clear? Meaning there is no mortgage company

mbrcatz17 · #2 (**permalink**) 06-12-2007, 10:32 PM

You leave it blank. No mortgagee.

Sue · #3 (**permalink**) 06-13-2007, 12:34 AM

How did you pass your license if you are an agent & do not know this?? Anyway, leave the mortgage section blank. If you feel you NEED to put something there, put "none". If you are new & just a processor, why don't you just ask your trainer or supervisor instead of being here? I would think you could get in trouble for being here instead of working at your job.

Yanswersmonitorsarenazis · #4 (**permalink**) 06-13-2007, 12:49 AM

No mortgage = no mortgagee clause required. God help us if you're actually an agent.