Guide Update 25-20
:  Property and Liability Insurance
Effective:
Property and Liability Insurance (Redline).pdf

Primary Audience: Insurance

HIGHLIGHTS

Effective for Mortgage Loans placed under application on or after October 31, 2025 and for insurance policy renewals on or after December 21, 2025, updated insurance information in:

 

  • Part II, Chapter 5: Property and Liability Insurance; and
  • Part V, Chapter 4: Asset Management: Loan Document Administration.

 

Primary Changes

Updated:

  • Part II, Chapter 5: Property and Liability Insurance to:
    • clarify:
      • when Risk Retention Groups and Captive Insurers are acceptable;
      • the minimum agreed amount endorsement; and
      • that Commercial General Liability coverage must apply per location; 
    • outline minimum excess or umbrella liability coverage requirements based on the aggregate number of units covered by the policy; 
    • amend liability deductibles; and
    • modify earthquake insurance requirements for business income insurance and deductibles.
  • Part V, Chapter 4: Asset Management: Loan Document Administration, Section 413.01B: Policy Renewal to amend MAMP submission requirements for Non-Monetary Default Requests that are non-compliant. 

 

Questions

Please contact Jennifer Clements at (202) 752-5988, or [email protected], with any questions.