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

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

• determining if an individual property insurance policy on a unit in a project development is required,
• coverage requirements, 
• determining the required coverage amount, and 
• deductible requirements.

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