Escrow & Title
In Maine, a 'mortgagee clause' in a homeowner's insurance policy protects:
AThe mortgagee (lender) by ensuring they receive insurance proceeds in the event of a covered loss✓ Correct
BThe property owner from liability
CThe title insurance company
DThe real estate agent
Explanation
A mortgagee clause (also called a lender's loss payee clause) in a homeowner's insurance policy protects the lender by ensuring that any insurance proceeds from a covered loss are made payable to both the homeowner and the lender.
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