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Requirements for 1-4 unit properties apply to similar residential properties within a Planned Unit Development (PUD) or a ground lease community.
For first lien home mortgages on 1-4 unit properties, the hazard insurance coverage must be equal to the lesser of:
Deductible for hazard policies must conform to investor guidelines. Deductible requirements on Jumbo loans must meet FNMA requirements.
A hazard insurance policy that meets the following specifications must be provided by the applicant at closing:
The following endorsements are required for PUD and condominium projects. Inflation Guard Endorsement, if available; Construction Code Endorsement, if there is a construction code provision that wo...
One-to-four family residences must protect against loss or damage from fire and other hazards covered by the standard extended coverage endorsement. The coverage should be of the type that provides...
