We received notification from our borrowers insurance company that they are going to discontinue coverage on the borrowers property at the end of of the month. Is there an issue with force placing insurance as soon as the other coverage ends? I know with flood there is a 45 day waiting period, but is there any regulation which places a time waiting period on hazard insurance that is force placed. Thanks for your help.

This would be governed by your loan contract and State law (that is at least until the Frank-Dodd provisions become effective).