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September 22
FinCEN's Beneficial Owners Proposal: What It Can Mean for You;
Sonja Kriegsmann and John Burnett

September 23
Bankruptcy 101;
Sam Ott

September 30
Revised Escrow Rules - Review and Update;
Jack Holzknecht and Mary Beth Guard

October 7
CRA - Digging for Credit;
Patricia Cashman

October 8
Applicants and Applications: Knowing the Players and the Rules;
David Dickinson

October 15
MasterCard and Reg E: Basic Debit Card Investigations;
Brian Crow



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

Registered: 08/26/04
Posts: 221
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.

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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: 40747
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.

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