CMF: Overview of CMF Insurance Compliance
Date:Tuesday, October 15, 2019
Time: 2:00-3:30 PM EST
This webinar is complimentary to MBA Members, please use the promo code WEBINAR upon check out.
For Non-Members interested in purchasing and attending multiple webinars in the CMF Insurance series, please use the promo code GROUP15 to receive 15% off.
Commercial Insurance Series Summary:
Commercial insurance is a complex and dynamic component of the real estate finance industry. In recognition of the training needs of our members, MBA Education has developed a comprehensive program covering the various elements of commercial insurance. In collaboration with Insurance Advisors LLC and Fortress Risk Consultants LLC, MBA Education will offer 13 webinars over the course of a two year period covering the following four categories:
1) Introductory and OverviewOur goal is for MBA members to develop a better understanding of everything from the fundamentals to the complexities of commercial insurance.
2) Types of Commercial Insurance
3) Commercial Insurance Industry Processes
4) Commercial Insurance Compliance
Overview of CMF Insurance Compliance:
There is a complex and detail oriented process that needs to be followed, in order to comply with the insurance requirements of various capital sources in the multifamily lending industry. This webinar will detail the best practices to be followed in order to satisfy the various constituencies in this sector. Each capital source has their own unique set of insurance requirements. And even though each lender (with minor exceptions) requires the same set of insurance policies, each entity has their own perspective as to what is important about each coverage part. This seminar will put a framework around the high level differences between the various GSE’s insurance requirements.
In order to get insurance compliance done correctly, the insurance review has to be done in a very specific order, while compiling a lengthy set of documents. Each of those documents needs to be analyzed in details for Limits, terms and conditions that will satisfy the needs of each lender. We will also discuss the differences in the analysis for loans in different stages, such as refinances, acquisitions, assumptions, etc. Each of these loan types drive a difference methodology in the review process.
Finally, some items have to be delivered before closing, and some can be delivered post-closing. This seminar will educate the audience on what these items are, and discuss why some can be deferred.
- Mike McDaniel, President & Owner, Fortress Risk Consultants, LLC
The schedule for 2018 and 2019 is as follows:
- Fundamentals of Commercial Insurance (February 13, 2018)
- Blanket Property Policy Analysis Insurance (March 27, 2018)
- Builder's Risk Insurance (April 10, 2018)
- Business Income Insurance (June 21, 2018)
- Force Placed Insurance (July 10, 2018)
- CMF Insurance Policy, Review and Boiler/Machinery Insurance (September 5, 2018)
- Overview of CMF Insurance Compliance (October 18, 2018)
- Self-Insurance, Captives and Fronting (November 14, 2018)
- Fundamentals of Commercial Insurance (February 19, 2019)
- Self-Insurance and Reinsurance (March 19, 2019)
- Catastrophic Insurance (April 16, 2019)
- Ordinance or Law Insurance (June 18, 2019)
- Top Commercial Insurance Issues and Problems (July 16, 2019)
- General, Umbrella, and Prof. Liability Insurance (September 17, 2019)
- Overview of Commercial Insurance Compliance (October 15, 2019)
- Commercial Insurer Ratings and Property Claims (November 19, 2019)
Who Should Attend?
Loan closers, servicers and others concerned with insurance matters, such as attorneys and consultants who work within the real estate industry.