CC_S_205.4 Commercial/Multifamily Insurance Compliance Review
It is the duty of the servicer to ensure that the borrower is in compliance with the various insurance coverage requirements set forth in the loan documents, servicing agreement, or other applicable documents (such as the particular agency guide or, if applicable, the organization's standards).
CMF Insurance Compliance Review explores the insurance compliance review responsibilities of the servicer. It begins with a look at the typical proof of insurance coverage summary provisions supplied by the borrower and/or its insurance agent. Next, it describes a typical insurance compliance review process that a servicer may follow. Finally, the course explores the processes and procedures followed by a servicer when handling insurance waivers and exceptions.
This is a commercial/multifamily course.
Seat time approximately 1.5 hours.