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#2301251 - 09/04/24 09:01 PM Does Assumption call for a new flood determination
Okie Banker Offline
Member
Joined: Feb 2024
Posts: 66
Would an assumption of a loan and mortgage call for a new flood hazard search for the new "buyer"?

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Flood Compliance
#2301254 - 09/04/24 09:06 PM Re: Does Assumption call for a new flood determination Okie Banker
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 85,328
Galveston, TX
Well, there is no MIRE involved, you are just substituting borrowers if it is a straight assumption.
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#2301258 - 09/04/24 09:24 PM Re: Does Assumption call for a new flood determination Okie Banker
Okie Banker Offline
Member
Joined: Feb 2024
Posts: 66
Thank you. I found that same answer by Andy in BOL's Q&A section.

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#2301752 - 09/17/24 06:10 PM Re: Does Assumption call for a new flood determination Okie Banker
John_Burnett Offline
Platinum Poster
John_Burnett
Joined: Feb 2013
Posts: 559
Cape Cod
If you got it in a post by Andy and another by Randy, you got the right answer.
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