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#2116474 - 02/01/17 04:35 PM Force Place Insurance
Amandak Offline
Member
Joined: Jul 2013
Posts: 80
Wisconsin
Can someone please point me in the right direction? I have a R/E loan that we need to force place insurance on and I have never done this before and need to read the rule so I know how to proceed. A few things to note this property is not in a flood zone, not a special property just straight up residential home and we are a small creditor.

Thank you in advance!

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Lending Compliance
#2116481 - 02/01/17 04:55 PM Re: Force Place Insurance Amandak
Darth HMDA, CRCM, CAMS Offline
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Darth HMDA, CRCM, CAMS
Joined: Dec 2013
Posts: 1,387
CA
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The opinions expressed are mine, do not represent the opinions of my employer, and they are not to be taken as legal advice.

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#2116484 - 02/01/17 04:57 PM Re: Force Place Insurance Amandak
Norman Paperman Offline
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Norman Paperman
Joined: Aug 2012
Posts: 1,656
48.934476, -114.343735
So are you placing flood or hazard insurance?

Hazard/Property Insurance:
https://www.bankersonline.com/regulations/12-1024-037

Flood Insurance: FDIC source, but you get the point.
https://www.fdic.gov/regulations/laws/rules/2000-6100.html
_________________________
Maybe you just wanna fly the plane yourself. Well good luck pressing take off, then auto pilot, then land.


CRCM

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#2116487 - 02/01/17 05:04 PM Re: Force Place Insurance Amandak
Amandak Offline
Member
Joined: Jul 2013
Posts: 80
Wisconsin
Thank you!

Hazard/Property

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