You can add or modify mortgagees on an existing policy so parties who loaned money or hold a lien for the property can be included to receive policy deliverables. When a mortgagee is added or changed on a policy, BriteCore will automatically send policy documents via mail (using a third-party integration) or email.
Note: You can configure forms to print when a specific mortgagee type is added to a policy using the Applies when Mortgagee on Policy setting. See Document settings for more information.
Add a mortgagee
- Select Policies.
- On the Policies List screen, select a policy number to open a policy.
- If the policy doesn't have an open revision, create a new revision.
- In the Property tab Mortgagee section, select the green plus (+) icon next to Add a Mortgagee. The Name, Description, Loan Number, Type, and Mortgagee Statement boxes will display.
- Complete the boxes with the following information:
- In the Name box, type the name of the contact you want to add. A dropdown list of suggested existing contacts will appear.
- If you want to add a contact that already exists, select the contact from the dropdown list of suggested contacts.
- If the contact you want to add isn't in the list of suggested existing contacts, check the spelling to ensure that you don't add a duplicate contact. If you still don't see the contact you want to add, press the Enter/Return key to open the New Contact dialog box. Complete required boxes on the New Contact dialog box, and then select Done.
- In the Description box, add a description of the mortgagee.
- In the Loan Number box, add the Named Insured's loan number.
- In the Type dropdown list, select the mortgagee type.
- In the Name box, type the name of the contact you want to add. A dropdown list of suggested existing contacts will appear.
Note: Mortgagee types are set using the mortgagee-types advanced setting.
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- In the Mortgagee Statement box, add a mortgagee statement, such as Its Successors and/or Assigns or As Their Interests May Appear.
Remove a mortgagee
- Select Policies.
- On the Policies List screen, select a policy number to open a policy.
- If the policy doesn't have an open revision, create a new revision.
- In the Property tab Mortgagee section, select the red X icon to the left of the name of the contact you want to remove. A Warning pop-up window will appear, asking you to confirm you want to remove the contact from the policy.
- Select Yes.
- Commit the revision.