{"id":29380,"date":"2024-04-18T15:04:58","date_gmt":"2024-04-18T19:04:58","guid":{"rendered":"https:\/\/www.carh.org\/?p=29380"},"modified":"2024-04-18T15:08:27","modified_gmt":"2024-04-18T19:08:27","slug":"hud-increases-wind-and-named-storm-insurance-coverage-deductible-amount","status":"publish","type":"post","link":"https:\/\/www.carh.org\/hud-increases-wind-and-named-storm-insurance-coverage-deductible-amount\/","title":{"rendered":"HUD Increases Wind and Named Storm Insurance Coverage Deductible Amount"},"content":{"rendered":"<p><em>On April 18, 2024, HUD sent out the following information:<\/em><\/p>\n<p style=\"margin: 0in 0in 3.75pt 0in;\"><span style=\"font-size: 11.5pt; font-family: 'Helvetica',sans-serif;\">Today, HUD&#8217;s Office of Multifamily Housing published a <strong><u><a style=\"-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%;\" href=\"https:\/\/www.hud.gov\/sites\/dfiles\/OCHCO\/documents\/2024-05hsgml.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #1d5782;\">Mortgagee Letter<\/span><\/a><\/u><\/strong> &amp; <u><a style=\"-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%;\" href=\"https:\/\/www.hud.gov\/sites\/dfiles\/OCHCO\/documents\/2024-06hsgn.pdf\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #1d5782;\"><strong>Housing Notice<\/strong>,<\/span><\/a><\/u> <span class=\"normaltextrun\"><span data-ccp-parastyle=\"paragraph\">revising our Federal Housing Administration (FHA) Multifamily property insurance requirements for wind and named storm coverage <\/span><span data-contrast=\"auto\">by increasing the maximum casualty insurance deductible amount for wind or named storm coverage to the greater of $50,000 or 5% of the insurable value per location, up to a maximum amount of $475,000 per occurrence, for <\/span><\/span>new mortgage insurance transactions that have not achieved final endorsement.<\/span><\/p>\n<p style=\"-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; margin: 0in 0in 3.75pt 0in;\"><span style=\"font-size: 11.5pt; font-family: 'Helvetica',sans-serif;\">\u00a0<\/span><\/p>\n<p style=\"-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%; margin: 0in 0in 3.75pt 0in;\"><span style=\"font-size: 11.5pt; font-family: 'Helvetica',sans-serif;\">For additional detail, see the press release <u><a style=\"-webkit-text-size-adjust: 100%; -ms-text-size-adjust: 100%;\" href=\"https:\/\/www.hud.gov\/press\/press_releases_media_advisories\/HUD_No_24_080\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #1d5782;\"><strong>here<\/strong>.<\/span><\/a><\/u><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On April 18, 2024, HUD sent out the following information: Today, HUD&#8217;s Office of Multifamily Housing published a Mortgagee Letter &amp; Housing Notice, revising our Federal Housing Administration (FHA) Multifamily property insurance requirements for wind and named storm coverage by increasing the maximum casualty insurance deductible amount for wind or named storm coverage to the&hellip;<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_cbd_carousel_blocks":"[]","footnotes":""},"categories":[1],"tags":[],"class_list":["post-29380","post","type-post","status-publish","format-standard","hentry","category-uncategorized","category-1","description-off"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts\/29380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/users\/263"}],"replies":[{"embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/comments?post=29380"}],"version-history":[{"count":4,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts\/29380\/revisions"}],"predecessor-version":[{"id":29384,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/posts\/29380\/revisions\/29384"}],"wp:attachment":[{"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/media?parent=29380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/categories?post=29380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.carh.org\/wp-json\/wp\/v2\/tags?post=29380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}