Builder’s Risk Insurance

Requirements

You must ensure:

• if property insurance coverage is excluded during construction or significant renovation or restoration, the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). has builder's risk insurance during such activity; and
• the coverage equals at least 100% of the completed value, on a non-reporting basis.