Click to return to BOL home page
Banker Store Read A Reg BOL Insiders Career Connect Learning Connect Bankers Information Network






Topic Options
#1401628 - 06/09/10 05:32 PM flood/ non participating community
TooTall Online
100 Club

Registered: 08/26/04
Posts: 223
Loc: oklahoma
We are making a loan on a commercial building located in a SFHA. The community where the builing is located does not participate in the NFIP so flood insurance would not be available or required.
But the county in which the community and the building are located does participate in the NFIP. Would this require flood insurance on the building.I can find nothing in the guidelines that addresses county participation.

Top
Lending Compliance
#1401684 - 06/10/10 08:39 AM Re: flood/ non participating community [Re: TooTall]
Dan Persfull Offline
10K Club

Registered: 08/28/02
Posts: 40808
Loc: Bloomington, IN
If the community does not participate then flood insurance would not be required because a NFIP policy is not available in the community, you would however still have to send the notice of availability.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Top


Moderator:  Andy Z