Mortgage Policy (MP) vs. Owner Policy (OP) - Amount of Insurance
Per CATIC's filing with DFR, the amount of any OP
issued should equal or exceed the amount of the MP issued. I
f there is ever a question on a specific
transaction, please contact our office to discuss.
Example: Purchase price is $225,250.00; Loan Amount is $229,500.00. Please
increase the amount of the insurance on the OP to equal $229,500.00.