Servicing Guide

Published September 9, 2020

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How should the servicer determine minimum coverage amounts for flood insurance?

If Fannie Mae does not have an interest in the first lien mortgage loan and the property securing a second lien mortgage loan is not covered by a flood insurance policy because the holder of the first lien mortgage loan did not require flood insurance coverage, the servicer must require the borrower to obtain a flood insurance policy with coverage in the amount of the lesser of

  • the UPB of all property liens, or

  • the maximum coverage available under the NFIP.

For more information see Servicing Guide B-3-01, Flood Insurance Requirements Applicable to All Property Types.  

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Customers Recommend Ask Poli

If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

Guide Resources

For a comprehensive list of resources such as access forms, announcements, lender letters, notices and more.

Visit Selling and Servicing Guide Communications and Forms

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