Submit Change to Mortgagee Clause: Difference between revisions

Revision as of 14:27, 19 December 2024

This Equinox Procedure is for Agents. Find a complete list here.

This procedure explains how agents or insureds can request changes to the mortgagee clause on an NFIP policy using the Equinox platform. Changes to the mortgagee clause may include updating the mortgagee’s name, address, loan number or adding or removing a mortgagee. Incorrect mortgagee information is a common cause of claim payment delay.

Procedural Steps

1. Access the Policy Record

Access the Policy Record and navigate to the "Policy Actions" menu.

Select "Change Mortgagee Clause" to open the request form.

2. Enter the Requested Changes

Update the mortgagee details as required, such as:

Adding a new mortgagee or loan number
Updating contact details for an existing mortgagee
Removing a mortgagee from the policy

Check to see if the mortgagee wants the policy to be billed to them (i.e. escrowed).

3. Review and Submit

* Review the request for accuracy and completeness.

Submit the mortgagee clause change through the Equinox platform for processing.

Additional Details

NFIP Guidelines Reference: Guidance on mortgagee clause changes, including documentation and timeline requirements.
Equinox Quick Guide: Instructions for submitting mortgagee clause changes in the platform.
FAQs for Agents: Common questions about mortgagee clause changes (e.g., "What happens if the mortgagee details are incorrect on the policy?").

This page may need to be edited based on suggestions or concerns. Read more in the Discussion page.

This page contains details about NFIP Policy Changes.
Find more NFIP information in the How To Endorse section of the Flood Insurance Manual.

@@ Line 9: / Line 9: @@
 {{collapsible-section
 |number = 1
-|title = 1. Prepare for the Change Request
+|title = 1. Access the Policy Record
 |content =
-* Gather the following information:
+Access the Policy Record and navigate to the "Policy Actions" menu.
-  * Policy number
+* Select "Change Mortgagee Clause" to open the request form.
-  * Current mortgagee details
-  * Requested updates (e.g., new mortgagee name, address, or removal of a mortgagee)
 }}
 {{collapsible-section
 |number = 2
-|title = 2. Access the Change Request Menu
+|title = 2. Enter the Requested Changes
 |content =
-* Log in to the Equinox platform and navigate to the "Policy Actions" menu.
+Update the mortgagee details as required, such as:
-* Select "Change Mortgagee Clause" to open the request form.
+* Adding a new mortgagee or loan number
+* Updating contact details for an existing mortgagee
+* Removing a mortgagee from the policy
+Check to see if the mortgagee wants the policy to be billed to them (i.e. escrowed).
 }}
 {{collapsible-section
 |number = 3
-|title = 3. Enter the Requested Changes
+|title = 3. Review and Submit
-|content =
-* Update the mortgagee details as required, such as:
-  * Adding a new mortgagee or loan number
-  * Updating contact details for an existing mortgagee
-  * Removing a mortgagee from the policy
-* Ensure all changes align with NFIP guidelines and reflect the policyholder’s instructions.
-}}
-{{collapsible-section
-|number = 4
-|title = 4. Review and Submit
 |content =
 * Review the request for accuracy and completeness.