[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-288591-105":53,"doc-detail-288591-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","flood-insurance-coverage-requirements-condominium","Flood Insurance Coverage Requirements - Condominium","","Revised flood insurance coverage requirements for existing and new loan applications effective on or after September 20, 2019, focusing on condominium projects in an SFHA. Lenders must verify whether the HOA maintains appropriate master or equivalent private flood insurance coverage, including coverage for the entire building and common elements. The policy must meet specified replacement cost and NFIP-based per-unit limits, and borrowers may need supplemental coverage when HOA limits fall short or commercial space exceeds 25%.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":51,"@type":70,"position":76},"https://docshare.wps.com/template/general/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/flood-insurance-coverage-requirements-condominium/288591/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/flood-insurance-coverage-requirements-condominium/288591.png","ImageObject",442,249,{"name":88,"@type":89},"Emma Wilson","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-09-20","2026-09-17",true,{"@type":98,"interactionType":99,"userInteractionCount":9},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"When do the revised flood insurance guidelines take effect?","Question",{"text":108,"@type":109},"They apply to existing and new loan applications on or after September 20, 2019.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"What must the lender verify for a condo building in an SFHA?",{"text":113,"@type":109},"The lender must verify that the HOA maintains a Residential Condominium Building Association Policy or equivalent private flood insurance coverage for the subject unit’s building.",{"name":115,"@type":106,"acceptedAnswer":116},"When is supplemental flood insurance coverage required?",{"text":117,"@type":109},"Supplemental coverage is required if the master policy does not meet the minimum coverage amounts, including cases where commercial space exceeds 25% or per-unit coverage is insufficient.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},288591,1789633673,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":50,"category_name":51,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":73,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":135,"language":136,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":137,"faqs":138,"seo_title":139,"seo_description":61,"update_tm":125,"read_time":47},3848291630094,"https://eur-avatar.wpscdn.com/davatar_085a072bc5b1113ac321206ff7593b45","| Topic | Impacted Document | Impacted Products | Current Guidelines |  |  |  | Revised Guidelines\u003Cbr>Effective for EXISTING AND NEW Loan Applications ON OR AFTER September 20, 2019 |  |  |  |\n| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |\n| Flood Insurance Coverage Requirements\u003Cbr>Condominiums | Correspondent\u003Cbr>Section 2.01\u003Cbr>Agency Loan\u003Cbr>Programs\u003Cbr>Guideline | 􀁸 Standard Agency (nonAUS, DU & LPA)\u003Cbr>􀁸 Agency Plus (DU & LPA)\u003Cbr>􀁸 HomeReady® Mortgage\u003Cbr>(non-AUS & DU)\u003Cbr>􀁸 Home Possible®\u003Cbr>Mortgage (LPA)\u003Cbr>􀁸 Texas Section\u003Cbr>50 (a)(6) Mortgages (non-AUS, DU & LPA) | Property and Flood Insurance / Flood Insurance Coverage Requirements\u003Cbr>Non-AUS\u003Cbr>Note: Below is an EXCERPT only of the guidelines from the above referenced section. All other currently published guidelines in this section remain the same.\u003Cbr>􀁸 Requirements for a Unit in a Project Development\u003Cbr>􀁸 When a mortgage loan is secured by a unit in an attached condo project and any part of the building improvements are in an SFHA, the lender must verify that the HOA maintains a master policy of flood insurance. The premiums must be paid as a common expense, unless indicated otherwise in the table below. |  |  |  | Property and Flood Insurance / Flood Insurance Coverage Requirements\u003Cbr>Non-AUS\u003Cbr>Note: Below is an EXCERPT only of the guidelines from the above referenced section. All other currently published guidelines in this section remain the same.\u003Cbr>􀁸 Requirements for a Unit in a Project Development\u003Cbr>􀁸 When a mortgage loan is secured by a unit in an attached condo project and any part of the building improvements are in an SFHA, the lender must verify that the HOA maintains a master policy of flood insurance. The premiums must be paid as a common expense, unless indicated otherwise in the table below. |  |  |  |\n|  |  |  |  | Project Type | Coverage Requirements |  |  | Project Type | Coverage Requirements |  |\n|  |  |  |  | Condo | 􀁸 The lender must verify that the HOA maintains a Residential Condominium Building Association Policy or equivalent private flood insurance coverage for a condo building consisting of attached units located in an SFHA. The only building that must be verified is the subject unit’s building.\u003Cbr>􀁸 Fannie Mae does not require evidence of a master flood insurance policy, provided the unit owner maintains an individual flood dwelling policy that meets the coverage requirements outlined in this document for the following mortgage loans or project types:\u003Cbr>􀁸 units in a two-to four-unit project, and\u003Cbr>􀁸 detached condo properties.\u003Cbr>􀁸 A master flood insurance policy maintained by the project, must cover the subject unit’s:\u003Cbr>􀁸 entire building including each of the individual units in the building; and\u003Cbr>􀁸 all of the common elements and property, including machinery and equipment that are part of the building.\u003Cbr>􀁸 The condominium owners association must maintain building coverage on the building for the lower of (i) 100% of the building's replacement cost or (ii) $250,000 multiplied by the number of residential units in the building.\u003Cbr>􀁸 If the condominium owners association's building\u003Cbr>coverage does not meet the requirements above, the borrower must maintain supplemental coverage on the unit in an amount at least equal to the difference (i.e., shortfall) between:\u003Cbr>􀁸 the coverage amount of the condo project’s master policy, allocated to the subject unit (calculated by dividing the amount of the condo project’s master policy by the number of units in the building), and\u003Cbr> 􀁸 100% of the building’s replacement cost, allocated  |  |  | Condo | 􀁸 The lender must verify that the HOA maintains a Residential Condominium Building Association Policy or equivalent private flood insurance coverage for a condo building consisting of attached units located in an SFHA. The only building that must be verified is the subject unit’s building.\u003Cbr>􀁸 Fannie Mae does not require evidence of a master flood insurance policy, provid","cbCainxDze3JM8vU","https://ap.wps.com/l/cbCainxDze3JM8vU","pdf",705092,13,"English","# Flood Insurance Coverage Requirements - Condominium\n## Project rules and verification by lenders\n## Coverage scope and replacement cost thresholds\n## Supplemental coverage when requirements are not met\n## Treatment of commercial space over 25%","[{\"question\":\"When do the revised flood insurance guidelines take effect?\",\"answer\":\"They apply to existing and new loan applications on or after September 20, 2019.\"},{\"question\":\"What must the lender verify for a condo building in an SFHA?\",\"answer\":\"The lender must verify that the HOA maintains a Residential Condominium Building Association Policy or equivalent private flood insurance coverage for the subject unit’s building.\"},{\"question\":\"When is supplemental flood insurance coverage required?\",\"answer\":\"Supplemental coverage is required if the master policy does not meet the minimum coverage amounts, including cases where commercial space exceeds 25% or per-unit coverage is insufficient.\"}]","Flood Insurance Coverage Requirements - Condominium | PDF"]