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#1627891 - 11/14/11 01:23 AM Hazard & flood premiums for a 2nd home purchase
Many Hats Offline
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Posts: 915
Orlando, FL
Is there an exemption in RESPA for showing the hazard & flood premiums on the GFE for the purchase of a 2nd home?

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RESPA
#1627892 - 11/14/11 11:22 AM Re: Hazard & flood premiums for a 2nd home purchase Many Hats
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 84,759
Galveston, TX
No. There are no special rules for specific types of property, i.e., 1st home, 2nd home, etc.

Q: What types of insurance are included on the GFE, Block 11, ― Homeowner‘s insurance?

A: Block 11 of the GFE contains estimates for premiums for all types of insurance (other than title insurance) that must be purchased to meet the loan originator‘s requirements to protect the property from loss, such as hazard insurance (homeowner‘s insurance), flood insurance, and earthquake insurance.
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#1628045 - 11/14/11 05:12 PM Re: Hazard & flood premiums for a 2nd home purchase rlcarey
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Posts: 915
Orlando, FL
Nothing was put on the good faith estimate or on the settlement statement.

Also the borrowers property was in a flood zone.

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