Collateral is in guantors name

Posted By: cowgirlsrule

Collateral is in guantors name - 04/24/15 04:37 PM

If you have a loan in a holding company (borrower) and the property is owned by the guarantor (granting collateral) - does the flood insurance need to be in the name of the owner of the property and also the borrower receives the notice of flood insurance correct?
Posted By: rlcarey

Re: Collateral is in guantors name - 04/24/15 05:37 PM

Notices always go to the borrower. The owner of the property must appear on the policy as a named insured.
Posted By: cowgirlsrule

Re: Collateral is in guantors name - 04/24/15 09:46 PM

Thank you.