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Elevation Certificate for Flood Purposes

Answered by: 
Randy Carey

Question: 
Does a bank have the right to require an elevation certificate for flood purposes from the consumer?
Answer: 

I'm not sure why? An elevation certificate might be necessary in order for the flood insurance company and FEMA to properly rate the policy, but I am not sure what a bank would ever use it for.

First published on BankersOnline.com 6/10/13

First published on 06/10/2013

Filed under: 
Lending
Filed under lending as: 
FEMA
Flood

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