SECTION 330:25-1-5. Program insurance

Latest version.

(a)   Various types of program insurance may be required.
(b)   Errors and Omissions Insurance and Fidelity Bond coverage shall be required of each participant, with the costs to be paid by each participant.
(c)   The following insurance, among others, with OHFA or servicer and/or assigns as beneficiary, shall be a part of each mortgage loan. The costs of such coverage shall be paid by or on behalf of the mortgagor, and may include:
(1)   Hazard Insurance.
(2)   Flood Insurance (where applicable).
(3)   FHA Mortgage Insurance or VA Guarantee.

                    
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