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Many mortgage lenders require borrowers to have a homeowners insurance policy with a mortgagee clause. The mortgagee clause is a provision that protects the lender from financial loss if the ...
BB&T Financial Center is a 340-foot (100 m) postmodern green glass and steel skyscraper at 200 West 2nd Street and is the 2nd tallest building in Winston-Salem, Forsyth County, North Carolina, United States [2] with 271,445 square feet (25,218.1 m 2) of space. [3]
In February 2019, SunTrust Banks announced its pending purchase by BB&T for $28 billion in an all-stock deal, creating the sixth largest U.S. lender, being the biggest bank deal since the 2007-2008 financial crisis. [6] On December 6, 2019, the merger between BB&T and SunTrust closed, forming Truist Financial Corporation. [7]
The mortgagee is the lender, such as a bank, credit union or online lender. This is the entity providing the funds via a mortgage to buy a home. The mortgagee determines if the mortgagor qualifies ...
The clauses are found in maritime insurance in relation to insuring mortgaged vessels. When selling land via a land contract, the seller may require the buyer to include a loss payee clause in their insurance policy to protect the seller's ongoing interest in the property until the contract is concluded. [1]
An acceleration clause is a section of a mortgage contract that can have big consequences: Namely, it can require you to pay off your entire mortgage at once. Even if you miss only one payment.
A single missed insurance bill, failed automatic payment or an outdated mortgagee clause listed on policy documents are all possible reasons for a lapse, but the result is the same and could ...
In mortgages, an attornment clause is a clause whereby the mortgagor attorns tenant to the mortgagee, thus giving the mortgagee the right to distrain, as an additional security. [1] As used in modern legal transactions, the term attornment refers to an acknowledgment of the existence of the relationship of landlord and tenant. [1]