OAR 274-045-0270: Hazard Insurance

The home securing a program loan shall be covered by hazard insurance, which meets the requirements of the rules and the Post Vietnam Era Veterans' Home Loan Origination Guide/Mortgage Brokers Loan Origination Guide, a copy of the Guide is on file with the Oregon Department of Veterans’ Affairs, 700 Summer Street NE, Salem, Oregon 97301-1285, and is available to the public during normal business hours. Such hazard insurance shall be in effect prior to purchase or funding of the program loan, and shall remain in effect for the term of the program loan. The ODVA shall be named as the mortgagee insured. [Publications: Publications referenced are available from the agency.]