Learn and Share invaluable info about Insurance and Risk Management!
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Freddie Mac and Fannie Mae are among the nation’s largest home loan lenders, and in order for a borrower to obtain a Freddie Mac or Fannie Mae guaranteed loan, they must obtain insurance that meets specific requirements set forth by the Lender. However, meeting these insurance requirements sometimes proves very difficult for borrowers. When a borrower is unable to meet one of these requirements, a waiver is needed. We at Advocate know that submitting an Insurance Waiver to Freddie Mac/Fannie Mae can present several challenges, and we understand how complex and daunting the process can be. This is why we created a team of insurance experts who have years of experience in writing and submitting Waivers to Freddie Mac and Fannie Mae. These experts are here to help you through the process of writing your own waivers and answer any questions you might have along the way. We will help you navigate Freddie Mac’s and Fannie Mae’s waiver submission process while ensuring all forms are filled ou
Hello All! I was curious to know what your thoughts are on writing a waiver for Captive Insurers/Risk Retention Groups and what you have seen with some of the agency lenders (Fannie Mae/Freddie Mac) in regards to these types of waivers. Freddie does not have anything in their guide in regards to the policy holder surplus which is usually a problem with these type of insurers, but Fannie Mae does. Any insight would be greatly appreciated! 😊
Does the loan collateral property address listed on the ACORD (or other insurance documentation) need to exactly match the address listed on the Appraisal, including abbreviations and punctation? For example, does “W” need to be updated to the full word “West”, does “Dr.” need to be updated to “Drive”, and do discrepancies with respect to periods (.) or commas (,) need to be resolved?
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