501.01H

Evidence of Insurance

Requirements

You must have:

temporary or permanent evidence of insurance when the Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 closes; and
permanent evidence of insurance within 90 days after Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 Delivery DeliverySubmission of all correct, accurate, and certifiable documents, data, and information with all applicable documents properly completed, executed, and recorded as needed, and any deficiencies resolved to Fannie Mae’s satisfaction. .

Guidance

Acceptable Evidence of Insurance
ACORD 28 – Evidence of Commercial Property Insurance (most recent version or, if applicable, the state-approved form), combined with ACORD 25 – Certificate of Liability Insurance. ACORD 75 – Insurance Binder. If an ACORD certificate is unavailable, a joint letter from the Borrower and its licensed insurance broker/agent certifying that all coverages, terms, and conditions meet the requirements. For NFIP flood insurance: the Policy Declaration page; or a copy of the signed application and proof of payment.	An original or duplicate copy of the insurance policy. For a Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). securing a Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 with a UPB UPBUnpaid Principal Balance : less than or equal to $10 million, the MBA MBAMortgage Bankers Association Evidence of Insurance - Commercial Property Form; or greater than $10 million, or for blanket policies with multiple layers, duplicate copies of the primary insurance policies, which should: include a letter (signed and dated on company letterhead) from an individual authorized to execute evidence of insurance on behalf of the insurance carriers issuing each policy; state that all policies follow the same terms, conditions, and exclusions as the primary policy, with any differences specified; and for NFIP NFIPProgram of flood insurance coverage and floodplain management administered under the National Flood Insurance Act. flood insurance, include the Policy Declaration page.

Acceptable Evidence of Insurance

Acceptable Temporary Evidence Forms

Acceptable Permanent Evidence Forms

ACORD 28 – Evidence of Commercial Property Insurance (most recent version or, if applicable, the state-approved form), combined with ACORD 25 – Certificate of Liability Insurance.
ACORD 75 – Insurance Binder.
If an ACORD certificate is unavailable, a joint letter from the Borrower and its licensed insurance broker/agent certifying that all coverages, terms, and conditions meet the requirements.
For NFIP flood insurance:
- the Policy Declaration page; or
- a copy of the signed application and proof of payment.

An original or duplicate copy of the insurance policy.
For a Property PropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). securing a Mortgage Loan Mortgage LoanMortgage debt obligation evidenced, or when made will be evidenced, by the Loan Documents, or a mortgage debt obligation with a Fannie Mae credit enhancement. Test Notes-SV Test Again Sub-bullet test1 Sub-bullet test2 with a UPB UPBUnpaid Principal Balance :
- less than or equal to $10 million, the MBA MBAMortgage Bankers Association Evidence of Insurance - Commercial Property Form; or
- greater than $10 million, or for blanket policies with multiple layers, duplicate copies of the primary insurance policies, which should:
  - include a letter (signed and dated on company letterhead) from an individual authorized to execute evidence of insurance on behalf of the insurance carriers issuing each policy;
  - state that all policies follow the same terms, conditions, and exclusions as the primary policy, with any differences specified; and
  - for NFIP NFIPProgram of flood insurance coverage and floodplain management administered under the National Flood Insurance Act. flood insurance, include the Policy Declaration page.

The following are not acceptable forms of permanent evidence:

insurance policy declarations pages (except for an NFIP NFIPProgram of flood insurance coverage and floodplain management administered under the National Flood Insurance Act. policy);
single policy endorsement;
insurance binders; and
certificates of insurance.