B-2-04, Property Insurance Requirements for Individual Units in a Project Development (12/21/2022)

Refer to Selling Guide B7-3-04, Property Insurance Requirements for Individual Units in a Project Development for property insurance requirements for mortgage loans secured by a unit in a project development, including

• determining if a unit owners property insurance policy is required,
• required perils,
• coverage sufficiency,
• maximum deductible, and
• additional requirements.

Refer to Selling Guide B7-3-08, Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements for the applicable requirements for mortgage loans secured by a unit in a project development.