SUPERSEDED — prior version (Selling Guide edition published May 6, 2026) — Fannie Mae Selling Guide B7-4-01 — General Liability Insurance Requirements for Project Developments

fnma-sel-b7-4-01-superseded-2026

SUPERSEDED — this is the PRIOR text of Fannie Mae Selling Guide B7-4-01 (General Liability Insurance Requirements for Project Developments), dated 12/14/2022, as published in the Selling Guide edition of May 6, 2026. Fannie Mae changed this topic: the edition published September 2, 2026 carries a revised text (SEL-2026-07 (August 5, 2026)). Retained because a loan or exam period governed by the earlier text needs the version in force at the time.

Superseded — retained for reference. The operative requirements have moved to the current rule (see the description above).

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Verbatim regulatory text (1)

Verbatim provisions from SUPERSEDED — prior version (Selling Guide edition published May 6, 2026) — Fannie Mae Selling Guide B7-4-01 — General Liability Insurance Requirements for Project Developments — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

[SUPERSEDED] Fannie Mae Selling Guide B7-4-01 — General Liability Insurance Requirements for Project Developments

Effective 2022-12-14 · publisher's stamp for this provision

B7-4-01, General Liability Insurance Requirements for Project Developments (12/14/2022) Introduction This topic contains information on general liability insurance requirements, including: Determining if General Liability Insurance is Required Coverage Requirements Determining the Required Coverage Amount Named Insured Determining if General Liability Insurance is Required General liability insurance is required for all condo and co-op projects, with the following exceptions: projects that qualify for a waiver of project review as described in B4-2.1-02, Waiver of Project Review, or condo projects reviewed under the Limited Review method as described in B4-2.2-01, Limited Review Process. Coverage Requirements When required, the HOA or co-op corporation must maintain a general liability insurance policy for the entire project. The general liability insurance policy must include coverage for: commercial spaces that are owned by the HOA or co-op corporation, even if they are leased to others, and bodily injury and property damage that results from the operation, maintenance, or the use of the project's common elements, and any other areas that are under its supervision. The general liability insurance policy must include a separation of insureds or severability of interests provision in its terms. If the policy does not include separation of insureds or severability of interests in its terms, Fannie Mae requires a specific endorsement to preclude the insurer's denial of a unit owner's claim because of negligent acts of the HOA or co-op corporation or of other unit owners. Determining the Required Coverage Amount The amount of coverage must be at least $1 million for bodily injury and property damage for any single occurrence. Named Insured The general liability insurance policy must designate the HOA or co-op corporation as the named insured with the premiums paid as a common expense by the HOA or co-op corporation.

Source: Fannie Mae Selling Guide B7-4-01 — General Liability Insurance Requirements for Project Developments · source URL · snapshot 5f7b8b79da595d76

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Source of record: https://claudeforcompliance.com/regs/fnma-sel-b7-4-01-superseded-2026/ · register fnma-sel-b7-4-01-superseded-2026 · verbatim, source-snapshotted regulator text from the Claude for Compliance corpus. To work from every register at once, download the corpus and follow the methodology.