We want to do a loan on employee housing located within a national park. Surely, flood act doesn't apply on federal land...does it?
Can you even do a specific enough legal on a location within a national park?

The only exemptions are state-owned property (structures and their contents) and the "small loan" exemption.

So, you'd need a determination.

How are you going to take a mortgage on federally-owned land?

Richard
It is a moduler building and we are taking a lien on the building and not a mortgage

LoanSuper, state owned properties are only exempt from the mandatory purchase requirement and then only if they have a "self-insured" policy that FEMA deems adequate. If the state does not appear on the list shown at 44 CFR Chapter 1 Part 75 then you must require them to get flood insurance.

http://edocket.access.gpo.gov/cfr_2005/octqtr/pdf/44cfr75.11.pdf

This is kind of a weird situation. Who are you lending too that is going to locate a structure in a National Park??