|
 |
Dating Flood Research Data
Answer by David Dickinson, BOL Guru
Guru Bios
Question: Can flood research data be dated the same day as the loan documents or does it have to be dated prior?
Answer: I'm not certain of your question, but I'm guessing you are asking if you can date the SFHDF the same day as the loan closing documents. There is no timing requirement for the SFHDF. If the property is in a SFHA, the borrower(s) must receive the notice in a "reasonable period of time before closing". The notice, therefore, has a timing element. How do you know if the property is in a SFHA? You complete a SFHDF. So logically, the SFHDF must be completed a reasonable period of time before closing so if the property is in a SFHA, the notice can be given a reasonable period of time before closing.
First published on BankersOnline.com 5/12/08
Privacy Policy Disclaimer Recommend This Site ! Contact Us
BankersOnline is a free service made possible by the generous support of our advertisers and sponsors. Advertisers and sponsors are not responsible for site content. Please help us keep BankersOnline FREE to all banking professionals. Support our advertisers and sponsors by clicking through to learn more about their products and services.
|
|
|
Print Friendly!
Email This Article!
Discuss NOW!