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#1104820 - 01/02/09 05:21 PM National Flood Insurance Program
Southern Lady Offline
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Joined: Jan 2009
Posts: 3
My Bank uses life of loan flood determinations. Due to recent revisions to flood maps, we have several loans where properties now are in a flood zone.

Does anyone know of the procedures for this?

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Lending Compliance
#1104823 - 01/02/09 05:29 PM Re: National Flood Insurance Program Southern Lady
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,886
Bloomington, IN
You have to send them the Notice of Special Flood Hazard and Availability of Federal Disaster Relief Assistance giving them 45 days to to get flood insurance. If they don't then on day 46 you force place flood insurance on their behalf.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1104867 - 01/02/09 06:25 PM Re: National Flood Insurance Program Dan Persfull
Southern Lady Offline
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Joined: Jan 2009
Posts: 3
Thank you very much. Southern Lady

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#1104869 - 01/02/09 06:27 PM Re: National Flood Insurance Program Dan Persfull
Southern Lady Offline
New Poster
Joined: Jan 2009
Posts: 3
Thank you very much. Southern Lady

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