Commercial/Multifamily: Overview of Commercial Insurance Compliance 2021
There is a complex and detail oriented process that needs to be followed, in order to comply with the insurance requirements of various capital sources in the multifamily lending industry. This webinar will detail the best practices to be followed in order to satisfy the various constituencies in this sector. Each capital source has their own unique set of insurance requirements. And even though each lender (with minor exceptions) requires the same set of insurance policies, each entity has their own perspective as to what is important about each coverage part. This seminar will put a framework around the high-level differences between the various GSE’s insurance requirements.
In order to get insurance compliance done correctly, the insurance review has to be done in a very specific order, while compiling a lengthy set of documents. Each of those documents needs to be analyzed in detail for Limits, terms and conditions that will satisfy the needs of each lender. We will also discuss the differences in the analysis for loans in different stages, such as refinances, acquisitions, assumptions, etc. Each of these loan types drive a difference methodology in the review process.
Finally, some items have to be delivered before closing, and some can be delivered post-closing. This seminar will educate the audience on what these items are, and discuss why some can be deferred.
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