19.4.13.4 Property Insurance
HUD Multifamily Accelerated Processing (MAP) Guide, HUD Handbook 4430.G (2020 ed., rev. Mar. 19, 2021) · 2026 edition · updated 2026-10-05 · United States
A. The RC Director will provide Lender with the Property Insurance Requirements (form HUD-92447) and Property Insurance Schedule (form HUD-92329) at issuance of the Firm Commitment.
- Lender is solely responsible for determining whether the property insurance requirements set forth in Property Insurance Requirements , including public liability, vehicle liability, flood and casualty insurance requirements, have been satisfied. See Chapter 3, Section 3.9. Lender must certify to compliance with the applicable insurance requirements in the Lender’s Certificate and Request for Endorsement of Credit Instrument.
MAP Guide, March 2021 Go to beginning of Chapter 19
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Chapter 19 Closing Guide 19.4 Document and Diligence Requirements
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After issuance of the Firm Commitment and prior to Final Endorsement, the RC Director may determine that revisions to the Property Insurance Schedule are necessary due to changes in the plans, specifications or cost of construction. The RC Director will notify the Lender of the changes. Lender must then ensure that the proper property insurance is obtained, and that Property Insurance Schedule is properly updated and resubmitted to HUD.
If required by the Firm Commitment, Lender must provide evidence of payment of the flood insurance premium at least three (3) business days prior to closing.
At closing, the HUD Closing Attorney will not collect certificates of insurance, unless requested to do so by the RC Director.
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