When it comes to mortgage insurance, people are usually terribly confused about the terms and conditions of a mortgage insurance policy. Essent Mortgage Insurance has addressed just that problem, by providing mortgage insurance that is easy to understand, fair and available when customers most need it. Below, you will find more information about this insurance company.
Why is insurance needed on a mortgage?
A mortgage is a loan. When a loan is issued, there is risk involved to the lender. When a person does not pay back a loan on time, the lender suffers a loss. To compensate for this risk, the lender charges a mortgage insurance policy.
How long has Essent Mortgage Insurance been in the business?
Essent is a fairly new company, having first established themselves in 2010. Despite its young age, Essent has already garnered about $600 Million in investments, from large private investing groups such as J.P Morgan, Goldman Sachs and RenaissanceRe Ventures.
Essent has its main headquarters in Radnor, Pennsylvania, with operational offices in North Carolina. Essent mortgage insurance company is approved by both Freddie Mac and Fannie Mae and is authorized to write mortgage insurance in all 50 states
Does Essent serve lenders or homeowners?
Essent works with both lenders and homeowners when it comes to issuing of mortgage insurance covers. Lenders who are looking to establish a partnership with a reputable mortgage insurance provider can approach Essent for a business relationship.
On the other hand, individual homeowners who are looking for affordable, fair and transparent mortgage insurance covers can also approach Essent for individual mortgage insurance covers.
Finding information on the site
Essent Mortgage Insurance, doing business as Essent Guaranty, Inc. has a great website that provides a wealth of information about mortgage insurance. Readers who are interested in learning more about Essent Mortgage Insurance or about mortgage insurance in general can visit www.essent.us to view the many detailed sections that talk about mortgage insurance for homeowners and lenders.
There is a detailed FAQ section that should help clarify any doubts that readers might have about mortgage insurance.
Once someone becomes a customer at Essent Mortgage Insurance, they will have free online access to their account, whether they are a lender or a homeowner. Lenders will find this particularly useful as they can track all the mortgage insurance payments made by homeowners who have taken out loans from them. Essent also has a section called Lender Pages where it has a very popular informational section called Clear 2 Close, a set of PDF documents that educate lenders on mortgage insurance.