What is the mortgagee clause?

Mortgagee Clause

Our mortgagee clause is:

Shellpoint Mortgage Servicing                                                                                                                          ISAOA/ATIMA                                                                                                                                                      P.O. Box 7050                                                                                                                                                        Troy, MI 48007-7050

Please note that the mortgagee clause is only required when:

1. The maximum line or loan amount is greater than or equal to $250,000, regardless of whether the current first lien holder escrows OR
2. The maximum line or loan amount is less than $250,000 and the first lien holder does not escrow (*Please note that SEQ will make the final determination on whether or not the mortgagee clause will be required, please refer to the specific condition on the loan for more information)