Add a mortgagee

An organization that provides a loan to a borrower to purchase property is a mortgagee. The mortgagee holds a vested interest in the property covered by insurance. You can add a mortgagee in the Contacts, Policies, and Claims modules. To add a mortgagee in the Policies module, see Add or update a Mortgagee on a policy. To add a mortgagee in the Claims module, see Add a mortgagee in Claims.

To add a mortgagee, open the desired contact and:

  1. In the Role section, select Add a Role to open the Role dialog box.
  2. In the Role dropdown list, select Mortgagee.
  3. Select Done to close the dialog box and return to the Role section.
  4. Select Save beneath the Role dropdown list. A Save Completed pop-up window will open.
  5. Check the Issue payments to me electronically. checkbox if the mortgagee will receive payments electronically.
  6. In the Financial Account dropdown list, select the financial account of the mortgagee where payments will be deposited. If –No Payment Method Selected!– is the only option, you must first add payment information for the mortgagee. See Payments for more information.

    Note: To select an account from the Financial Account dropdown list, you must first check the Issue payments electronically to me. checkbox.

  7. In the Mortgagee Statement dropdown list, select one of the statements to be the default declaration language.
  8. When finished entering information, select Save. A Save Completed pop-up window will open. If you select Cancel, BriteCore won’t save the entered information.

Usage considerations

In the Policies table, you can view all policies that identify the contact as the mortgagee. When you select a policy from the Policies table, BriteCore will direct you to its Revisions tab.