The Lender's Performance Bond, available in selected states, is an innovative product for second mortgage and home equity lenders. It provides an alternative to securing time-consuming and costly land records searches to identify existing liens and encumbrances on the property which will be securing the loan. This coverage protects the lender from losses due to undisclosed or unknown liens that are superior to the lender's intended secondary lien position at loan origination, and which:

• Existed on or before loan origination
• Are superior to the lender's secondary lien position
• Were not disclosed by the borrower; and
• The lender did not know existed.

Lenders Performance Bond Application