We were recently informed four properties securing loans are now considered in a flood zone. We sent letters and the borrowers have attempted to obtain flood insurance. Two of them told us they are unable to get flood insurance without a Elevation Certificate. We haven't had to obtain an EC before and are not sure how to proceed. Where do we get an Elevation Certificate? Do we need to force place insurance (the 45 days is up) until we are able to obtain one and have the customer get their own insurance?

elevation certs are done by surveyors.
their insurance co should be able to recommend a survey co or you or the borrowers can contact one and have it done.

So one may not have been performed yet, is that correct? If not, then it is up to the customer to have one performed? I just want to make sure I'm understanding this correctly.

You may check with the City Engineering department. All post-firm buildings should have a elevation certificate on file.

If these are pre-firm buildings then an elevation certificate is optional. However, the premiums will be cheaper if an elevation certificate is provided. But the saving may not offset the cost of the survey. It's the insureds option.

www.fema.gov/pdf/nfip/manual200510/08cert.pdf


Pre-FIRM structures rated under Post-FIRM
rates
Pre-FIRM construction can be elevation rated
using the Post-FIRM Elevation Certificate
rates, which are more favorable rates if the
lowest floor of the building is at or above the
BFE for the community. In most cases, the
lowest floor level of a Pre-FIRM building is
below the BFE, and it would not benefit the
insured to pay the cost for an Elevation
Certificate in an attempt to secure a lower
rate. The decision to obtain an Elevation
Certificate and to request Post-FIRM rating of
a Pre-FIRM building is an option of the
insured.