Answer:
Flood regulations don't use "closing" as the key term. The triggers are "make, increase, renew, or extend." Nothing is triggered by when you record the security interest. How long it takes you to do that is not something that can be used to trigger the insurance. The fact is that the insurance must be in place before making the loan, not as late as perfecting security.
First published on BankersOnline.com 11/5/01