Owners and buyers of multifamily housing are experiencing sticker shock when they refinance, sell or purchase properties. Insurance premiums have jumped as much as 25% because of the broadened insurance requirements set forth by lenders.
GlobeSt.com caught up with Ryan Cassidy and Evan Seacat, both senior directors at Franklin Street Insurance Services, for a deeper understanding of why lenders have changed their standards and what owners and buyers can expect in part one of this exclusive interview. Stay tuned or part two, in which the duo will discuss how changing lender practices have impacted the market.
See story at https://www.globest.com/sites/jenniferleclaire/2017/05/04/what-to-do-about-insurance-sticker-shock/