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#1546123 - 05/04/11 10:28 PM Flood disclosures
KTW327 Offline
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KTW327
Joined: Mar 2011
Posts: 183
In the trees
Hi all,

I am researching required flood notices that must be given to consumers, and I think all we need is the Flood Insurance Notice if the property is located in a Flood Zone...right?

Is there any notification required if someone is not in a flood zone?

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Flood Compliance
#1546136 - 05/04/11 10:58 PM Re: Flood disclosures KTW327
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,352
Galveston, TX
Is there any notification required if someone is not in a flood zone?

No
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#1546169 - 05/05/11 02:50 AM Re: Flood disclosures rlcarey
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
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Posts: 21,277
But you will find many vendors provide such disclosures - they are not required.
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#1546252 - 05/05/11 01:09 PM Re: Flood disclosures Kathleen O. Blanchard
RR Joker Offline
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RR Joker
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Posts: 20,654
The Swamp
Although not required, we issue them due to the info in them that in the event it changes later, the requirements are laid out for them. It also informs them that even though not required by law, they may be in an area that it would be wise to have coverage...it's a good info piece.
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#1547705 - 05/06/11 07:56 PM Re: Flood disclosures RR Joker
QueenBB Offline
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Joined: Jan 2006
Posts: 190
TX
If a borrower IS in as SFHA, is it REQUIRED to get their signature on the notice that declares them in the flood zone? The notice starts with "this is an acknowlegement....".

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#1547937 - 05/09/11 12:44 PM Re: Flood disclosures QueenBB
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,769
Bloomington, IN
The borrower must acknowledge receipt of the notice. See page 35 of the Mandatory Purchase Guidelines.
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The opinions expressed are mine and they are not to be taken as legal advice.

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