Farm Loan Programs - Direct Loan Making

Instructions for FSA 2320

PROPERTY INSURANCE MORTGAGE CLAUSE

(WITHOUT CONTRIBUTION)

The form is used in connection with property insurance written by a company other than the contract company for applicants with real estate secured loans, and is completed by the insurance company or agent.

Submit the original of the completed form in hard copy or facsimile to the appropriate USDA office. Customers who have established electronic access credentials with USDA may electronically transmit this form to the USDA office, provided that the customer submitting the form is the only person required to sign the transaction.

Features for transmitting the form electronically are available to those customers with access credentials only. If you would like to establish online access credentials with USDA, follow the instructions provided at the USDA eForms web site.

Insurance company or agent must complete Part A.

FSA must complete Part B.

Part A - Items 1 through 9

Fld Name / Item No.	Instruction
1 First Mortgagee	Enter the first mortgagee’s name and address.
2 Second Mortgagee	Enter the second mortgagee’s name and address.
3 Third Mortgagee	Enter the third mortgagee’s name and address.
4 Insurance Policy Number	Enter the insurance policy number.
5 Insurance Company	Enter the name of the insurance company
6 Address of Insurance Company	Enter the insurance company’s address.
7 Borrower’s Name	Enter the policy holder’s name.
8 Signature	Enter the insurance company’s representative or agent’s signature. If you are mailing or faxing this form, print the form and manually enter your signature. If this form is approved for electronic transmission and you have established credentials with USDA to submit forms electronically, use the buttons provided on the form for transmitting the form to the USDA servicing office.
9 Date	Enter the date the form was completed.

Part B is for FSA use only