Mortgage Request Management

Overview

The Mortgage Request Management workflow in Momentum AMS standardizes how agencies receive, track, and respond to mortgagee-related requests. These requests can include adding or changing a mortgagee, providing evidence of insurance, or updating escrow billing instructions. A consistent process ensures compliance with lender requirements, protects financing relationships, and maintains accurate records for insureds and mortgagees.

Workflow Goal

To process mortgage-related requests efficiently by logging them, verifying coverage details, generating and delivering the proper documents, and maintaining an updated mortgagee database for future requests.

Step 1: Log Customer Requests

Purpose: Standardize how incoming mortgage-related requests are received, logged, and classified for follow-up.

AMS Steps:

• Receive the request: Monitor email, fax, or physical mail for requests such as adding/changing a mortgagee, providing evidence of insurance, or escrow billing instructions.

• Locate the insured’s policy: In Momentum AMS, use the search bar to find the insured by name, policy number, or address. Open the correct policy record and confirm the effective date.

• Log the request in AMS:

  • Go to the Notes section of the policy.

  • Create a note titled: “Mortgage Request – [Lender Name]”.

  • Record key details such as loan number, type of request (add/change, evidence of insurance, escrow instructions), the date received, and any deadline.

• Tag the request: Apply tags at the policy level such as “Mortgage – Add”, “Mortgage – Evidence”, or “Mortgage – Escrow”.

• Create a task: Assign a task titled “Process mortgage request from [Lender]” to a CSR or account manager, with a due date within 24–48 business hours.

Step 2: Verify Policy Coverage Details

Purpose: Ensure accurate documentation and uninterrupted financing by verifying policy coverage against lender requirements.

AMS Steps:

• Review the lender’s request: Check for required coverage limits, clause language, and billing or escrow instructions.

• Open the policy record in AMS: Confirm insured name, property address, effective/expiration dates, current limits, and existing additional interest/mortgagee information.

• Compare coverage: Confirm that policy limits meet or exceed the lender’s minimum requirements.

• Check mortgagee language: If the request specifies exact clause wording, prepare to enter it under Additional Interests → Add New.

• Clarify discrepancies: If anything is missing or inconsistent, contact the lender for clarification or notify the insured if policy adjustments are required. Record the clarification in the policy Notes.

• Document verification: Add a policy note: “Coverage verified for [Lender] on [Date] – [Meets/Does Not Meet] requirements”. Tag the policy as “Mortgage – Verified” or “Mortgage – Needs Change”.

Step 3: Generate Policy Documents

Purpose: Produce proof of insurance documents that meet lender specifications and deliver them on time.

AMS Steps:

• Confirm the required document: Identify whether the lender needs an ACORD 25, ACORD 27, ACORD 28, binder, or other form.

• Check for a Master Certificate

  • Ensure a Master Certificate of Insurance already exists for the insured.

  • If not, create it first (this is required before sending any certificates).

• Add or Use an Additional Interest

  • Go to the Additional Interests tab in the insured’s profile.

  • If the mortgagee or other interest is not listed, add it here.

  • If it already exists, no need to re-enter — you can use the existing record.

• Send the Certificate

  • From the Additional Interests tab, locate the interest.

  • On the left side, open the Actions dropdown.

  • Select Send Certificate.

  • This will generate the certificate from the Master Certificate and allow you to send it to the interest.

• Check accuracy: Confirm insured name, property address, loan number, mortgagee clause, and coverage limits match the lender request.

• Deliver the document: Email or fax directly from AMS, or download and send through your preferred channel.

• Save records: Upload the sent copy or email confirmation into Documents for the policy.

• Note the submission: Add a policy note: “Sent [ACORD 28] to [Lender] on [Date] via [method]”. Tag the policy as “Mortgage – Sent”.

Step 4: Maintain Mortgagee Database

Purpose: Keep mortgagee records standardized and easily accessible to ensure efficiency in handling future requests.

AMS Steps:

• Access Certificate Holders list: Navigate to Contacts → Certificate Holders in Momentum AMS.

• Search before adding: Always search for the lender by name before creating a new record to prevent duplicates.

• Standardize entry details:

  • Enter the correct legal name of the lender.

  • Use consistent formatting (e.g., “Wells Fargo Home Mortgage – ISAOA ATIMA”).

  • Add the full mailing address and contact information if available.

• Apply tags for tracking: Since you cannot add notes to certificate holders, use tags such as “Mortgagee – Residential”, “Mortgagee – Escrow Required”, or “Mortgagee – Commercial” to categorize.

• Update existing records: If the lender’s address or clause changes, edit the existing entry rather than creating a duplicate.

• Share standards internally: Provide your team with guidelines on naming conventions and tag usage so all staff handle mortgagees consistently.