Protect Your M&T Home: Update Your Mortgagee Clause Now
Understanding Your Mortgagee Clause and Why It Matters Owning a home is a significant investment, and protecting that investment is paramount. A crucial, often overlooked aspect of homeownership is the mortgagee clause in your homeowner's and flood insurance policies. This clause specifies that in the event of damage to your property, your insurance company pays your mortgage lender (M&T Bank, in this case) first, up to the outstanding loan balance....