Mortgage Portfolio Protection Program
What is Mortgage Portfolio Protection Program?
Mortgage Portfolio Protection Program (MPPP) provides flood insurance coverage that can be obtained by lenders for mortgage loans where the borrower has failed to obtain flood insurance at the time of origination.
What It Means
MPPP is a force-placed flood insurance purchased by the lender at the time of origination to enable the lender to be in compliance with the flood insurance requirements under federal regulations. MPPP is designed to be used only as a last resort for loans where the borrowers have failed to respond to various notices sent by the lender and has failed to obtain flood insurance. MPPP was established by FEMA on January 1, 1991.
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