Do you have to inform a borrower of their continual need for flood insurance annually or at time of loan renewal on a property that is currently in a flood zone?

The only notice required is if they let their insurance lapse.

This would require a new notice.

Dan - thanks, I guess I failed to read the second half of the question....

Thanks for the help.

what if we have a flood map change and we mail out the letter along with the Flood Notice and we don't recieve it back from customer we just get Insurance from agent via fax or mail. do we have to have the signed copy of is just the letter good enough?

thank you.

You have to have acknowledgement the notice was received. We send ours certified with a return receipt requested.

And before anyone asks. No, receiving the policy would not acknowledge receipt of the notice. All that acknowledges is you told them they needed flood insurance and they got it but it does not acknowledge you sent the notice. As for as the examiner is concerned you told them over the telephone they needed the insurance which does not meet the notification requirements.

well we didn't notify by telephone we sent them a letter and in the letter did notify that we were sending the Flood Notice and that they would need to send it back to us signed.

Then you need to follow-up to get the acknowledgement.