Force-placed insurance.

CFR · 2024-01-01 · US · Title 12

(a) (2) (i) Hazard insurance required by the Flood Disaster Protection Act of 1973. (ii) Hazard insurance obtained by a borrower but renewed by the borrower's servicer as described in § 1024.17(k)(1), (2), or (5). (iii) Hazard insurance obtained by a borrower but renewed by the borrower's servicer at its discretion, if the borrower agrees. (b) (c) (i) Deliver to a borrower or place in the mail a written notice containing the information required by paragraph (c)(2) of this section at least 45 days before a servicer assesses on a borrower such charge or fee; (ii) Deliver to the borrower or place in the mail a written notice in accordance with paragraph (d)(1) of this section; and (iii) By the end of the 15-day period beginning on the date the written notice described in paragraph (c)(1)(ii) of this section was delivered to the borrower or placed in the mail, not have received, from the borrower or otherwise, evidence demonstrating that the borrower has had in place, continuously, hazard insurance coverage that complies with the loan contract's requirements to maintain hazard insurance. (2) (i) The date of the notice; (ii) The servicer's name and mailing address; (iii) The borrower's name and mailing address; (iv) A statement that requests the borrower to provide hazard insurance information for the borrower's property and identifies the property by its physical address; (v) A statement that: (A) The borrower's hazard insurance is expiring, has expired, or provides insufficient

official document · source cfr-2024 · id 12:§ 1024.37