Clients can add an extension to cancellations to accommodate mortgagees. When used, BriteCore will report a cancel date of X more days via InsVista to the mortgagee. BriteCore, however, will still process the policy on the original cancel date. In other words, BriteCore processes the policy as if there is no extension. The extension is reported to the mortgagee through InsVista only.
- Check and define the Allow Mortgagee Extension setting.
- Go into Settings > Modules > Policies > Policy Lifecycle > Cancellation > Options.
Note: This feature was coded specifically for New York clients.
When the setting is enabled, a Grant Mortgagee Extension of Cancellation checkbox appears on every policy. When a mortgagee is added to a policy, the extension automatically applies via the aforementioned checkbox. To remove the extension, uncheck the box on the policy.