N.Y. Comp. Codes R. & Regs. tit. 11 § 227.5
Current through Register Vol. 46, No. 50, December 11, 2024
Within 15 days of receiving, from the borrower or otherwise, evidence demonstrating that the borrower has had in place hazard insurance that complies with the mortgage loan contract's requirements to maintain hazard insurance, an insurer, insurance producer or affiliate shall remove force-placed insurance from the borrower's property and refund to the servicer or borrower, as the case may be, all force-placed insurance premiums paid by the servicer or borrower for any period of overlapping insurance coverage.
N.Y. Comp. Codes R. & Regs. Tit. 11 § 227.5