Flood Insurance Update

December 23, 2019

Gateway Mortgage has made an update to our Flood Insurance Policy.

The required coverage offered is the lesser of the following:

  • The combined total outstanding principal balance of all loans, or
  • The maximum amount of coverage available under the NFIP (currently $250,000 per residential building); or
  • The insurable value of the residential building(s), which can be located on the hazard policy.

The complete Flood Insurance requirements can be found in Client Guide Chapter 4 on  page 20.

Please direct any questions to your Regional Sales Manager

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