Well, I would like to say that we closed it with insurance, but we misunderstood the documentation provided by the insurance agent at closing. We had an application that said all the right things, but when we called to get a copy of the binder after closing they were like, we can't issue a policy.
So now we have the situation at had....can we forceplace now (since the loan has closed). Neither the borrowers or the bank want to wait, the borrowers just can't get insurance right away so forceplacement is the better option right now.
Any thoughts with those facts in mind?