![]() ![]() The coverage amount for the building must be at least equal to the lesser of Units in a two- to four-unit project, andĪ master flood insurance policy maintained by the project, must cover the subject unit’sĮntire building including each of the individual units in the building andĪll of the common elements and property, including machinery and equipment that are part of the building. ![]() Fannie Mae does not require evidence of a master flood insurance policy, provided the unit owner maintains an individual flood dwelling policy that meets the coverage requirements of this Guide for the following mortgage loans or project types: The only building that must be verified is the subject unit’s building. The seller/servicer must verify that the HOA maintains a Residential Condominium Building Association Policy or equivalent private flood insurance coverage for a condo building consisting of attached units located in an SFHA.
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