PUD Project HOA Master Insurance Policy Requirement on Fannie Mae/Freddie Mac Transactions

Homebridge is announcing a change to our PUD project master insurance policy requirement when the property securing the loan is a detached single family residence.

Homebridge will no longer require the HOA master insurance policy when the subject property is a detached single family residence located in a PUD project on Fannie Mae and Freddie Mac transactions.

NOTE:  This change does not apply to attached/semi-attached units in a PUD project or to condo projects

As a reminder, the HOA master policy is currently not required for PUD projects on FHA/VA/USDA transactions so there is no change for FHA/VA/USDA transactions

This enhancement is effective immediately and may be applied to new submissions and to loans currently in the pipeline.

The Homebridge Insurance Quick Reference Guide has been updated and posted under “Reference Guides – General