What is “presentment of payment”?

Presentment of premium is defined as:

• The date of the check or credit card payment by the applicant or the applicant’s representative if the premium payment is not part of a loan closing.
• The date of the closing, if the premium payment is part of a loan closing.

For a loan closing, premium payment from the escrow account (lender’s check), title company, or settlement attorney is considered made at closing, regardless of when the check is received by the writing company.