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Flood Force Placement Notification Letter(s)
Answer by Dan Persfull, BOL Guru
Guru Bio

Question:  It seems like the process has changed for notifying the customer of flood force placement. I've heard three letters were required. What is the suggested notification process for forced flood insurance and what are the timing requirements?

Answer:  A search in the lending forum will provide you with numerous discussions on this issue. There have been no changes in the notification requirements. If you force place using the MPPP then there is a three letter series. See Appendix 7 of the Mandatory Purchase of Flood Insurance Guidelines. If you do not use the MPPP for your force placement, only one letter is required. Your notification process will be dependent on what source you use to force place the insurance.

First published on BankersOnline.com 6/16/08









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