CAS Mortgage Insurance Primer Presentation
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Overview of Borrower Insurance Requirements
Fannie Mae generally requires mortgage insurance (MI) for all mortgage
loans with original loan-to-value ratios greater than 80%
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MI compensates the policy holder for losses due to a default of a mortgage
loan and is designed to protect against borrower credit default
Fannie Mae requires property insurance for properties securing loans
delivered to us
Property insurance must protect against loss or damage from fire and other
hazards covered by the standard extended coverage endorsement
Fannie Mae requires flood insurance for any property that has a
residential building, dwelling, structure, or improvement situated in a
Special Flood Hazard Area (SFHA) that
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has federally mandated flood insurance purchase requirements, or
is located in the Coastal Barrier Resources System or Otherwise Protected
Area
CAS Mortgage Insurance Primer Presentation
Fannie Mae's public Selling Guide and Servicing Guide detail Fannie
Mae's policies related to mortgage, property, and flood insurance.
10/18/2017
© 2017 Fannie Mae. Trademarks of Fannie Mae.
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