CAFP
On the HAZ1 screen, this line number is the go-to for HO-6 coverage on condo properties, assuming wind isn't already there.
What is 353?
When a policy premium exceeds $99,999, the premium field for the primary line and all subsequent lines—except the very last one—must be set to this specific dollar amount.
What is $99,999?
When managing an escrowed DIC renewal that lacks an annual payment, you must update the 353 or 355 line with these three specific criteria: a "P" code of 3 or 6, a "C" code of E, and this final mandatory step performed only after the payment is disbursed.
What is deleting the DIC line? / What is sending the IV919 letter and opening a HAZANA task?
As of August 1, 2024, a DIC policy is considered this type of coverage if wind and extended coverages are already included in the CAFP policy.
What is Optional?
While the primary line carries the full policy coverage amount, every additional excess premium line must have this specific numeric value entered in the COVERAGE field.
What is 1?
To properly track a hazard policy with a $250,000 premium that also requires a DIC policy because wind is excluded, you must set the 351 premium to $99,999, label the additional lines with the agent code EXPRM, and update the DIC to the 353 line using this specific coverage code.
What is W? (Since the DIC is required to meet wind requirements)
If a CAFP policy excludes extended coverage, you must issue this specific letter to the borrower—but only if you have clear evidence of the exclusion.
What is the IV918?
To identify an additional line as an excess premium carrier, these five letters must be entered into the AGENT field.
What is EXPRM?
When a condo association has no master policy and no individual policy is available, the 352 line must be "dummied" using this specific INSCO code and a PREMIUM of $1.00 for escrow loans.
What are 77777 and 1.00?
When a DIC policy is required to meet wind requirements, it is updated to the 353 line using this specific "C" code.
What is W?
When filling out the "C" (Coverage Type) field on an additional line, you use "H" for hazard or this letter if you are processing an additional flood line.
What is A?
If you are instructed to change a flood line from non-escrow to escrow during the ESCREV task, you must issue this specific letter to inform the borrower of the mandatory escrow requirements.
What Is the IV295 letter?
This specific escrow analysis task must be opened to Cenlar after deleting a DIC line and sending an IV919 letter.
What is HAZANA?
If a policy premium totals $212,215, this is the specific premium amount that must be entered on the second additional line (the third line total).
What is $12,217?
In the rare event a DIC policy is escrowed but the annual payment was missed, you must update the 353 or 355 line using this specific "C" code for the one-time payment—which differs from the "W" used for wind-required lines.
What is E?