If the lender determines that the insurable value of the common elements is de minimis (e.g., entrance signage, lamp posts, etc.), or close in value to any insurance deductible that would be obtainable, thereby negating a reasonable value of the insurance, the lender may document in the loan file a conclusion to proceed without insurance coverage on these common elements.
- Doing Business with Fannie Mae
- Escrow, Taxes, Assessments, and Insurance
- Mortgage Loan Payment Processing, Remitting, Accounting, and Reporting
- Providing Solutions to a Borrower
- Default-Related Legal Services, Bankruptcy, Foreclosure Proceedings, and Acquired Properties
- Servicing Guide Procedures, Exhibits, Quick Reference Materials, and Change Control Log