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#1371580 - 04/08/10 09:14 PM listing structure on Flood determination
Dodge Offline
100 Club
Joined: Mar 2010
Posts: 239
I am new to compliance, and this is probably a simple question but I will ask anyways.

On a flood determination do we need to list every structure (2 or more walls that is affixed to the property and has a roof) on the comment section of the determination?

According to a loan officer we are the only bank that does this. Does anyone else do this?
Last edited by giants06; 04/08/10 09:15 PM.
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Lending Compliance
#1371645 - 04/08/10 10:37 PM Re: listing structure on Flood determination Dodge
jlroberts Offline
Diamond Poster
Joined: Sep 2009
Posts: 1,576
According to the STANDARD FLOOD HAZARD DETERMINATION FORM the Comments section is optional. However it does mention what to do if you have multiple buildings. We do a separate form for each building.

MULTIPLE BUILDINGS: If the loan collateral includes more than one building, a schedule for the additional buildings/mobile homes indicating the determination for each may be attached. Otherwise, a separate form must be completed for each building or mobile home. Any attachments should be noted in the comment section. A separate flood insurance policy is required for each building or mobile home.

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