Does the Named Insured entity listed on the ACORD (or other insurance documentation) need to match the Borrower Entity listed on the loan documentation including punctation such as commas (,)?
Question
The Named Insured listed on the ACORD
Does the Named Insured entity listed on the ACORD (or other insurance documentation) need to match the Borrower Entity listed on the loan documentation including punctation such as commas (,)?
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- No – matching punctation is not necessary as insurance coverage would not be impacted and Freddie Mac/Fannie Mae do not require this
- That said, beyond the punctuation, in all other respects, the Named Insured entity on the ACORD should match the relevant Borrower entity. Our assessment, to mitigate risk, is that discrepancies should be avoided and that the two entity names should match.
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