Mortgage Clauses

In addition to protecting your property, most property insurance policies include clauses that will also protect your lender. Because your lender has a financial interest in your home until the mortgage is fully paid, they also require compensation for any property insurance policy payouts. In these property insurance clauses, your lender will be referred to as the mortgagee. Wherever you see the term "mortgagor," that means you, the property owner.

What is a Mortgage Clause?

A mortgagee clause is a property insurance provision granting special protection for a mortgagee (e.g., financial institution that has an interest in the property) named in the policy that, in effect, sets up a separate contract between the insurer and the mortgagee.


The clause establishes that loss to mortgaged property is payable to the mortgagee named in the policy and promises advance written notice to the mortgagee of policy cancellation. It also grants continuing coverage for the benefit of the mortgagee in the event that the policy is voided by some act of the insured (e.g., arson). The Mortgagee Clause specifies the obligations of the mortgagor in continuing coverage. The mortgagor would be expected to notify the insurer of any changes in ownership, occupancy, or exposure; pay any due premium; and submit a signed, sworn statement of loss within the appropriate time frame. Without the protection of the mortgagee clause, financial institutions would be unlikely to loan the large amounts of money necessary to purchase homes.


When you obtain your property insurance policy, you must ensure that the mortgagee is named using our legal name of Santander® Bank, N.A. and the appropriate address, listed below.

Product Type Required Loss Payee/Mortgagee Clause
Conventional Santander Bank, N.A.
PO Box 200060
Kennesaw, GA 30156-9246
FHA Santander Bank, N.A.
and the secretary of HUD, ISAOA ATIMA
PO Box 200060
Kennesaw, GA 30156-9246
CHFA Connecticut Housing Finance Authority,
Santander Bank, N.A.
PO Box 200060
Kennesaw, GA 30156-9246
NH Housing Santander Bank N.A.
and the New Hampshire Housing Finance Authority
PO Box 200060
Kennesaw, GA 30156-9246
MHFA Massachusetts Housing Finance Agency
1 Beacon Street
Boston, MA 02128
1st and 2nd mortgagee
Santander Bank, N.A.
PO Box 200060
Kennesaw, GA 30156-9246
Closing with a subsidy 3rd mortgagee
MHP Funds Board,
160 Federal Street
2nd Floor, Boston, MA 02110
PHFA Pennsylvania Housing Finance Agency,
Its Successors and/or Assignees
211 North Front Street
PO Box 15057
Harrisburg, PA 17105 - 5057
RI Housing Rhode Island Housing
44 Washington Street
Providence, RI 02903
SONYMA State of New York Mortgage Agency,
c/o M & T Bank
PO Box 5738
Springfield, OH 45501
VA Santander Bank, N.A.
and the Secretary of Veteran Affairs
PO Box 200060
Kennesaw, GA 30156-9246
Home Equity  Line of Credit Santander Bank, N.A.
450 Penn Street
Reading, PA 19601
Closing with North Suburban Consortium/Malden Redevelopment as 3rd or 4th mortgagee
Malden Redevelopment Authority,
as Representative Member and Agent for the North Suburban Consortium
200 Pleasant Street
Malden, MA 02148
NJHMFA New Jersey Housing and Mortgage Finance Agency
637 South Clinton Avenue
P.O. Box 18550
Trenton, NJ 08650
MMP Santander Bank, and MD CDA
and/or their Successors
and Assignees CDA/Single Family Housing
100 Community Place
4th Floor, Room 4.300
Crownsville, MD 21032-2023

Other Types of Mortgage Clauses

While the term “mortgagee clause” typically refers to the mortgagee clause in your property insurance, there are clauses that are also directly part of your mortgage agreement. A common clause that will likely be included as part of your mortgage is an alienation clause.

Alienation Clause

Also referred to as a due-on-sale clause, an alienation clause requires you to make full payment of your mortgage if you sell or otherwise transfer the property. This prevents a new owner from assuming the mortgage under its current terms without the lender’s knowledge. Many mortgages are not assumable, so read your mortgage carefully and contact your lender if you plan to make any changes in ownership of your property.


Have additional mortgage questions? Check out our Mortgage FAQs, glossary of common mortgage terms, or contact a Mortgage Specialist.