Ratings

All property and liability insurance carriers for renewal policies must have the following ratings by A.M. Best Company:

• General Policyholder Rating of A- or better; and
• Financial Size Category of VII or better.

Rating requirements do not apply to policies issued:

• through State-sponsored insurance programs; or
• by insurers participating in NFIPNFIPProgram of flood insurance coverage and floodplain management administered under the National Flood Insurance Act. .

Per the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , even if the policy has not yet expired, the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. must require the BorrowerBorrowerPerson who is the obligor per the Note. to immediately obtain replacement coverage with a compliant carrier if the carrier is downgraded below B++ by A.M. Best Company.