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A savvy lender knows enough to require proof of insurance from an insurance company in order to verify any documentation submitted by an association.

If you believe that your association has provided written documentation which misrepresents your insurance coverage, you can send a letter to the board requesting that the matter be discussed in an open board meeting, and that the discussion be included in the meeting minutes.

Include any proof you have of the '300% overage' with your letter.

Fraud is a legal term, and you'll need an attorney to help you discover the facts of the situation in order to prove fraud.

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Q: Your condo association is reporting to the lenders that you have 300 percent more insurance than is actually carried Is this fraud?
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