Frequently Asked Questions


FAQ Category

What Is Mortgage Insurance?

Mortgage insurance is NOT the same as homeowner’s insurance. Mortgage insurance makes it possible for lenders to offer financing with low down payments, as it protects them against non-payment. Your mortgage insurance costs may be added to your monthly loan payments, or you may pay it at closing.

If you have a conventional loan, you may be required to have private mortgage insurance (PMI), while FHA loans may require you to pay Mortgage Insurance Premiums (MIP).

What Is a Mortgagee Clause?

This is a clause in an insurance contract that entitles a named mortgagee (Caliber Home Loans) to be reimbursed for damage or loss to the property. This protects your lender (Caliber Home Loans) so we can ensure the damage is completely repaired and the property is brought back to its original state. An insurance claim check will have two payees - Caliber Home Loans and the borrower - on the check.

Please use the following Mortgagee Clause for Caliber Home Loans:

Caliber Home Loans, Inc.
PO BOX 7731
Springfield, Ohio 45501-7731

My Loan is Escrowed, When Will My Insurance Be Paid?

Once a bill is received from your insurance company, payment will be issued within 21 days of the due date. This time frame allows for mailing and posting by your insurance company for the new term. To view recent insurance payments made on your loan, follow the steps below:

Steps to view Insurance Payments:

  • Log in to your account to view the Accounts Detail page
  • Select the Loan Details menu option
  • Select the option to view Payment History/Activity
My Insurance Company Has Cancelled My Homeowner’s Coverage. What Should I Do?

Your insurance company must provide you with a reason why your coverage was cancelled. You may contact your current insurer and ask that they reinstate coverage, or shop for new coverage from another insurer.

It’s important that you renew your homeowner’s insurance as soon as possible, as your home loan requires it. If your home becomes uninsured, Caliber will have to purchase insurance for you and bill you for it. Insurance purchased by a lender may be more expensive than your previous coverage, and may not provide you with your preferred level of coverage.

If you did not pay your insurance premium because you’re having financial difficulties, call Customer Service at 800-401-6587 to discuss your options.

I’m Shopping Around for New Homeowner’s Insurance Coverage, as I Want to Lower My Premiums. How Do I Make Sure My New Insurance Provides Adequate Coverage?

Make a copy of all of the pages of your current insurance policy, so you can show it to other insurance agents or companies. Your current policy contains details of your home’s value and other information – things new insurers will need to know before providing a new quote for coverage.

I’ve Just Moved My Homeowner’s Insurance Coverage to a New Agent/Insurance Company. How Do I Notify Caliber of This Change?

Write your loan number on your new insurance policy’s declarations page and send it to Caliber Home Loans, P.O. Box 7731, Springfield, OH 45501-7731. You may also fax it to 937-525-4120 or update your insurance information online at:

I Changed Insurance Companies and Received a Refund Check from My Previous Company. What Do I Need to Do with the Refund?

This will depend on the payee on the check.

If the check is made out to Caliber Home Loans and you have an escrow account, send it to Caliber Home Loans Escrow Dept., P.O. Box 650856, Dallas, TX 75265-0856. This will prevent a future escrow shortage and also informs us that you’ve switched insurance companies.

If the check is made out to you, you may deposit it to your account. We recommend that you transfer these funds to your Caliber escrow account when making your next monthly payment to prevent a future shortage.

If you do NOT have an escrow account, keep the refund! It’s yours.

I Received an Insurance Check for Damages to My Home. What Do I Need to Do?

Contact our Loss Draft Department at 1-866-940-2335 to discuss details of your claim with one of our insurance specialists. They will be able to tell you how to handle the claim funds. You can also upload all of the required claim documents or track the progress of your claim by

I Received a Past Due Notice From My Insurance Company, What Should I Do?

Please contact the Caliber Insurance Department at 1-866-825-9268 between 9am to 7pm Eastern time, Monday through Friday for assistance.

What is Lender Placed Insurance (LPI)?

Lender Placed Insurance (LPI) is insurance coverage obtained by Caliber on your property when your retail policy has canceled or non-renewed and Caliber has not received proof of insurance from your retail carrier. If you received a lender placed insurance notice from Caliber but have your own policy, please forward proof of insurance to Caliber. Write your loan number on your insurance policy’s declarations page and send it to Caliber Home Loans, P.O. Box 7731, Springfield, OH 45501-7731. You may also fax it to 937-525-4120 or update your insurance information online at:

FAQ Category

Still Have Questions?

Call Caliber Servicing at 800-401-6587.
Our friendly Customer Service representatives are ready to assist you
from 8:00 AM to 7:00 PM CST, Monday through Friday.