ACORD 27 — Evidence of Property Insurance

Edition 2016/03 · PDF format

Shows personal lines property coverage details. Often required by mortgage companies and lenders as proof of homeowners or dwelling fire coverage.

What is ACORD 27?

ACORD 27 (Evidence of Property Insurance) is the personal-lines counterpart to the commercial ACORD 28. Mortgage lenders use it to confirm that a homeowner or dwelling-fire policy is in force on a property securing a residential mortgage loan.

Unlike a certificate, this form is treated by many lenders as the document of record for proving coverage at closing and through the life of the loan. Most agency management systems generate it automatically when a new policy is bound.

Who needs this form

Residential mortgage lenders, escrow agents, and any party closing on a home loan or refinancing where proof of homeowners insurance is required.

When to use it

Use ACORD 27 at residential mortgage closing, refinancing, and any time the lender requests updated proof of homeowners coverage.

Key Fields on ACORD 27

The information the form captures, in the order it typically appears:

Insured name and property address
Insurance company and policy number
Effective and expiration dates
Coverage A (dwelling) limit
Deductible amount
Mortgagee name, mailing address, and loan number
Producer signature

Common Mistakes

Recurring errors that delay processing or expose brokers to E&O claims:

Wrong mortgagee clause wording

Each lender provides specific mortgagee clause language including 'ISAOA, ATIMA' or similar legal phrasing. Use the lender's exact language verbatim.

Coverage A below the loan amount

Most lenders require dwelling coverage at least equal to the loan balance or full replacement cost. Quoting below this triggers force-placed insurance.

Frequently Asked Questions

What does ISAOA ATIMA mean on the mortgagee clause?

ISAOA stands for 'Its Successors And/Or Assigns' and ATIMA stands for 'As Their Interests May Appear.' These phrases ensure the mortgagee clause remains valid even if the loan is sold to another lender.

Is ACORD 27 the same as a certificate of insurance?

No. A certificate is informational only and does not bind coverage. The Evidence of Property Insurance is a more authoritative document, treated by lenders as proof of insurance for loan-servicing purposes.

Related ACORD Forms

ACORD 28