Escrow & Title
What type of title insurance policy protects the lender's interest in the property?
AOwner's policy
BLender's policy (mortgagee policy)✓ Correct
CExtended coverage policy
DGap policy
Explanation
A lender's title insurance policy (mortgagee policy) protects the lender's interest up to the loan amount. It decreases as the loan is paid down and terminates when the loan is paid off.
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