source:
  type: guide
  id: fnma-svc-b-6-01
  authority: Fannie Mae Servicing Guide B-6-01 — Lender-Placed Insurance Requirements
  description: Fannie Mae Servicing Guide B-6-01 — Lender-Placed Insurance Requirements.
  coverage_tier: operative
obligations:
- id: fnma-svc-b-6-01-full
  canonical_id: fnma-svc-b-6-01-full
  section: Fannie Mae Servicing Guide B-6-01 — Lender-Placed Insurance Requirements
  type: do
  tags:
  - regulator-direct
  - fnma
  - servicing-guide
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: Fannie Mae Servicing Guide B-6-01 — Lender-Placed Insurance Requirements
    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: 'B-6-01, Lender-Placed Insurance Requirements (10/14/2015) Introduction
      This topic contains the following: Servicer Responsibilities Related to Lender-Placed
      Insurance Lender-Placed Insurance Deductible Requirements Published May 13,
      2026 187 Servicer Responsibilities Related to Lender-Placed Insurance If the
      servicer cannot obtain evidence of acceptable property or ﬂood insurance for
      a property securing a mortgage loan, the servicer must obtain lender-placed
      insurance in compliance with Fannie Mae’s insurance requirements. The following
      table provides the servicer’s responsibilities related to lender-placed insurance.
      ✓ The servicer must... Only issue lender-placed insurance coverage after it
      makes unsuccessful attempts to obtain evidence of insurance in accordance with
      applicable law. Not use a lender-placed insurance carrier that is an aﬃliated
      entity, as deﬁned below, for a lender- placed insurance policy, including any
      captive insurance or reinsurance arrangements with an aﬃliated entity. Exclude
      any lender-placed insurance commissions or payments (including any incentive
      based compensation regardless of its designation as commission, bonus, fees,
      or other types of payments from the servicer’s lender-placed insurance carrier;
      for example, underwriting bonuses or other payments based on insurance loss
      ratios) earned on a lender-placed insurance policy by the servicer, broker,
      or any aﬃliated entity, as deﬁned below, from the lender-placed insurance premiums
      charged to the borrower or submitted for reimbursement from Fannie Mae. Provide
      copies of its lender-placed insurance policy, including any other contractual
      arrangements between the servicer and a lender-placed insurance carrier, upon
      Fannie Mae’s request. Provide any documentation or data relating to its lender-placed
      insurance activities and lender- placed insurance coverage requested by Fannie
      Mae within 30 days of Fannie Mae’s request. In compliance with applicable law:
      • terminate any lender-placed insurance, and • refund all lender-placed insurance
      premiums and fees charged during any period of coverage overlap. For purposes
      of lender-placed insurance, an aﬃliated entity is deﬁned as an entity owned
      or controlled, in whole or in part, by the servicer including, but not limited
      to, a subsidiary or joint venture of the servicer; an entity that owns or controls,
      in whole or in part, the servicer (for example, the parent company of the servicer);
      or an entity under common ownership or control with the servicer (for example,
      two subsidiaries of the Published May 13, 2026 188 same parent company). An
      aﬃliated entity does not include a publicly traded company where the servicer
      owns less than 5% of its stock. Lender-Placed Insurance Deductible Requirements
      The servicer must set the deductible for a lender-placed property insurance
      policy based on the following table. If the coverage amount is... Then the required
      deductible is... less than $100,000 $1,000. from $100,000 up to and including
      $250,000 $2,000. greater than $250,000 $2,500. Note: Lender-placed ﬂood insurance,
      and lender-placed wind- or hail-only insurance policies are excluded from this
      requirement. Recent Related Announcements There are no recently issued Announcements
      related to this topic. Chapter B-7, Liability and Fidelity/Crime Insurance Requirements
      for Project Developments Introduction This chapter describes the requirements
      relating to liability and ﬁdelity/crime insurance for project developments.'
  judgment: false
