What Does Standard Mortgage Clause Mean?

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What does Standard Mortgage Clause mean? Read on to discover the definition & meaning of the term Standard Mortgage Clause - to help you better understand the language used in insurance policies.

Standard Mortgage Clause

Standard Mortgage Clause

A standard mortgage clause (also called a union mortgage clause) is an insurance provision that covers the mortgage lender but not the borrower for a loss involving the mortgaged property. This clause protects the lender in the event that the borrower intentionally damages the property.

We hope the you have a better understanding of the meaning of Standard Mortgage Clause.

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