SUPERSEDED — prior version (Servicing Guide edition published May 13, 2026) — Fannie Mae Servicing Guide B-2-02 — Property Insurance Requirements for One- to Four-Unit Properties

fnma-svc-b-2-02-superseded-2026

SUPERSEDED — this is the PRIOR text of Fannie Mae Servicing Guide B-2-02 (Property Insurance Requirements for One- to Four-Unit Properties), dated 12/21/2022, as published in the Servicing Guide edition of May 13, 2026. Fannie Mae changed this topic: the edition published August 12, 2026 carries a revised text (LL-2026-03 (March 18, 2026) and SVC-2026-05 (August 12, 2026)). Fannie Mae requires the revised text for loans with application dates on or after January 1, 2027; before that date a lender may still have applied this text. 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Superseded — retained for reference.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Verbatim provisions from SUPERSEDED — prior version (Servicing Guide edition published May 13, 2026) — Fannie Mae Servicing Guide B-2-02 — Property Insurance Requirements for One- to Four-Unit Properties — 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[SUPERSEDED] Fannie Mae Servicing Guide B-2-02 — Property Insurance Requirements for One- to Four-Unit Properties

Effective 2022-12-21 · publisher's stamp for this provision

B-2-02, Property Insurance Requirements for One- to Four-Unit Properties (12/21/2022) Introduction This topic contains the following: Overview Determining the Required Coverage Amount for Second Lien Mortgage Loans Mortgagee Clause Requirements for Second Lien Mortgage Loans Overview This topic describes additional requirements only applicable to servicers. Refer to Selling Guide B7-3-02, Property Insurance Requirements for One- to Four-Unit Properties for property insurance requirements for mortgage loans secured by a one- to four-unit property, including coverage requirements, determining the required coverage amount for first lien mortgage loans, and deductible requirements. Refer to Selling Guide B7-3-08, Mortgagee Clause, Named Insured, and Notice of Cancellation Requirements for the applicable requirements for mortgage loans secured by a one- to four-unit property. Determining the Required Coverage Amount for Second Lien Mortgage Loans When the existing coverage for a property that secures a second lien mortgage does not provide coverage equal to the lesser of 100% of the replacement cost value of the property improvements or the combined unpaid principal balance of the first-lien and second-lien mortgages (as long as that equals at least 80% of the replacement cost value of the improvements), the servicer must require the borrower to obtain appropriate endorsements to bring the coverage in line with Fannie Mae's requirements. A copy of any endorsements should be sent to the first-lien mortgage servicer. Mortgagee Clause Requirements for Second Lien Mortgage Loans For a second lien mortgage loan, the mortgagee clause in the property insurance policy for the first lien mortgage loan must be amended to recognize the second lien mortgage loan and to clearly set out Fannie Mae's interest in the policy coverage.

Source: Fannie Mae Servicing Guide B-2-02 — Property Insurance Requirements for One- to Four-Unit Properties · source URL · snapshot cf63a82bbb4adfba

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Source of record: https://claudeforcompliance.com/regs/fnma-svc-b-2-02-superseded-2026/ · register fnma-svc-b-2-02-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.