Mortgage Protection Insurance Mortgage Protection UK Mortgage Protection Mortgage Protection Plan Mortgage Payment Protection Insurance UK Mortgage Protection Insurance UK Mortgage Payment Protection Life Insurance Other Sites Job Loss Protection is a program designed for lenders, protects lenders and their borrowers against exposures caused by a borrower’s involuntary unemployment. Designed to relieve borrower anxiety when making a large purchase such as a home or automobile. Pays the monthly installment payment during the period of unemployment. Can be sold on mortgages, home equity loans, and auto loans or leases. May be sold on a blanket basis, in which the policy insures all loans originated by a lender, or may be sold to individual borrowers on a voluntary basis at loan origination. Benefits to the lender: Increased loan or lease volume due to greater customer confidence Enhances credit quality of the portfolio and improves portfolio performance via reduced delinquencies and defaults Covers escrowed property tax and insurance premiums which maintains the lender’s security interest on their mortgage portfolio The credit enhancement provided by Job Loss Protection coverage may allow lenders to decrease interest rates which will increase volume Source of fee income Benefits to customers: Relieves customer hesitancy about large purchases Financial assistance during personal economic hardship Simple claims procedures based on eligibility for state unemployment benefits Preserves customer’s credit rating May reduce monthly payment in certain scenarios