Prive flood policy and Condo

Posted By: mmason

Prive flood policy and Condo - 07/26/19 06:48 PM

Do we need to do the full validation of a private flood policy when the policy is for a condo and our customer owns one of the units? Our challenge right now is that the insurance company won't send us any information because the policy is not in the name of our customer.
Posted By: rlcarey

Re: Prive flood policy and Condo - 07/26/19 07:06 PM

Yes - the borrower needs to get with the condo association and get a copy of the policy. The agent can't just give other people's policies to third parties.