CS_S_205 Insurance Compliance for CMF Lending

Member Price: $119.00

Nonmember Price: $169.00

Product Code: DL2-001026-WC-W

This course is only for purchase through a corporate training agreement OR through the purchase of the Level II package of the Commercial Servicing Certificate Program

This is a commercial/multifamily series course, a component of the Level II Commercial Servicing Certificate Program.

Designed for commercial/multifamily (CMF) mortgage servicing professionals with 4-7 years of experience, Insurance Compliance for CMF Lending provides critical concepts for making management-level decisions related to insurance surveillance functions.

The series begins with an overview of insurance, the purpose of insurance coverage, what parties are involved in the process, and who insurance rating companies are. It also covers some key terminology in the insurance industry. Next, the series details the various types of insurance coverage, including property and liability insurance, the evidence (or proof) of coverage that is needed, and typical loan document and servicing agreement requirements.

The series then addresses other issues related to insurance, including current insurance industry challenges, force-placed insurance, servicer insurance requirements, blanket or layered policies, endorsements, and other considerations that may affect the servicer and the security of the loan. Finally, it examines critical concepts to insurance surveillance, the administration process required, why and how to perform an insurance compliance review, and the role of the servicer in managing non-compliance issues.

Series Goals

Upon completion of this course, learners should be able to:

  • Summarize insurance servicing for commercial/multifamily mortgage loans.
  • Describe key types of insurance coverage and their requirements as they apply to commercial/multifamily servicing.
  • Discuss industry issues and considerations in servicing insurance on commercial/multifamily mortgage loans.
  • State the insurance compliance review process that servicers perform.

Series Outline

CMF Debt Insurance Compliance

  • Introduction to Insurance
  • Participants
  • Insurance Coverage Forms
  • Key Insurance Terminology
  • Insurance Carriers
  • Surplus Lines of Insurance

Types of CMF Insurance

  • Identifying Coverage Requirements
  • Types of Property Insurance Coverage
  • Types of Liability Insurance Coverage
  • Proof of Coverage

Essential CMF Insurance Considerations

  • Force-Placed Insurance
  • Servicer Insurance Requirements
  • Blanket, Layered, and Scheduled Policies
  • Law and Ordinance Endorsement
  • Tenant Insurance Challenges

CMF Insurance Compliance Review

  • Importance of the Insurance Compliance Review
  • Compliance Process
  • Insurance Waivers

Copyright 2016.


This is a self-paced, self-study course.

Contact Info