FNMA Servicing Guide B-2 — Property Insurance Requirements

fnma-svc-b-2

Servicing Guide Chapter B-2 sets the servicer's property-insurance responsibilities including continuous coverage and annual verification.

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source:
  type: regulation
  id: fnma-svc-b-2
  authority: FNMA Servicing Guide B-2 — Property Insurance Requirements
  description: |
    Servicing Guide Chapter B-2 sets the servicer's property-insurance responsibilities including continuous coverage and annual verification.
obligations:
  - id: fnma-svc-b-2-continuous-property-insurance
    canonical_id: fnma-svc-b-2-continuous-property-insurance
    section: FNMA Servicing Guide B-2-01 — Property Insurance Requirements Applicable to All Property Types
    description: |
      [LENDER] must have policies and procedures in place to ensure that
      required property insurance is continuously maintained on the subject
      property for all first lien mortgage loans owned or securitized by
      Fannie Mae.
    type: do
    audit_question: Can [LENDER] evidence written policies and procedures (and operational execution) sufficient to ensure required property insurance is continuously maintained on every first-lien Fannie Mae mortgage loan?
    program_review: Does the program have policies/procedures ensuring required property insurance is continuously maintained on every first-lien FNMA loan?
    file_review: Sample first-lien loans; confirm continuous property-insurance coverage via the policy/procedure controls.
    judgment: false
    feeds:
      - fnma-svc-b-2-annual-coverage-verification
    workflow_phase: servicing
    owner_role: escrow_analyst
    secondary_owner_role: insurance_specialist
    cadence: continuous
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fnma
      - servicing-guide
      - property-insurance
      - continuous-coverage
      - promoted
    primary_source:
      tier: 1
      authority: FNMA Servicing Guide B-2-01
      source_class: fnma-guide
      source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
      snapshot_id: cf63a82bbb4adfba
      fetched_at: '2026-05-22T23:53:19Z'
      content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
      paragraph_quote: |-
        The servicer must have policies and procedures in place to ensure that required property insurance is
        continuously maintained on the subject property.
      drafter_attestation: |
        Copied verbatim from FNMA Servicing Guide snapshot cf63a82bbb4adfba (chapter B-2) at 2026-05-22.
    promoted_at: '2026-05-23T00:25:09+00:00'
    promoted_from: fnma-svc-b-2-roundb-v1.yaml
  - id: fnma-svc-b-2-annual-coverage-verification
    canonical_id: fnma-svc-b-2-annual-coverage-verification
    section: FNMA Servicing Guide B-2-01 — Property Insurance Requirements Applicable to All Property Types
    description: |
      [LENDER] must verify at least annually that the selected insurer, policy
      amount and type of coverage meet Fannie Mae's requirements as described
      in Selling Guide B7-3, Property and Flood Insurance.
    type: do
    audit_question: For every first-lien Fannie Mae mortgage loan, can [LENDER] evidence an annual verification that the insurer, policy amount, and type of property coverage meet Fannie Mae's requirements under Selling Guide B7-3?
    program_review: Does the program ensure at-least-annual verification that the insurer, policy amount, and coverage type meet FNMA requirements (Selling Guide B7-3)?
    file_review: For first-lien loans, confirm an annual verification of insurer/amount/type against Selling Guide B7-3.
    judgment: false
    feeds: []
    workflow_phase: servicing
    owner_role: escrow_analyst
    secondary_owner_role: insurance_specialist
    cadence: annual
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - fnma
      - servicing-guide
      - property-insurance
      - annual-verification
      - promoted
    primary_source:
      tier: 1
      authority: FNMA Servicing Guide B-2-01
      source_class: fnma-guide
      source_url: https://singlefamily.fanniemae.com/media/document/pdf/servicing-guide
      snapshot_id: cf63a82bbb4adfba
      fetched_at: '2026-05-22T23:53:19Z'
      content_hash: sha256:89df66c43baad07f8a8dd9d224492fff7d15e8839edba02ad0e74c7e50fe5da3
      paragraph_quote: |-
        Verify at least annually that the selected insurer, policy amount and type of coverage meet Fannie
        Mae’s requirements as described in Selling Guide B7-3, Property and Flood Insurance.
      drafter_attestation: |
        Copied verbatim from FNMA Servicing Guide snapshot cf63a82bbb4adfba (chapter B-2) at 2026-05-22.
    promoted_at: '2026-05-23T00:25:09+00:00'
    promoted_from: fnma-svc-b-2-roundb-v1.yaml
_promotion_history:
  - promoted_at: '2026-05-23T00:25:09+00:00'
    candidate_path: C:\Users\earlc\broker-tools\obligations\_remediation\_round_b_drafts\fnma-svc-b-2-roundb-v1.yaml
    candidates_promoted: 2
    candidates_skipped_existing: 0

Verbatim regulatory text (2)

Verbatim provisions from FNMA Servicing Guide B-2 — Property Insurance Requirements — 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.

FNMA Servicing Guide B-2-01 — Property Insurance Requirements Applicable to All Property Types

The servicer must have policies and procedures in place to ensure that required property insurance is continuously maintained on the subject property.

Source: FNMA Servicing Guide B-2-01 · source URL · snapshot cf63a82bbb4adfba

FNMA Servicing Guide B-2-01 — Property Insurance Requirements Applicable to All Property Types

Verify at least annually that the selected insurer, policy amount and type of coverage meet Fannie Mae’s requirements as described in Selling Guide B7-3, Property and Flood Insurance.

Source: FNMA Servicing Guide B-2-01 · source URL · snapshot cf63a82bbb4adfba