- Flood Policy (for loan purpose) sold on 06/25/12.
- Formal Notice of Rejection Form for NSF Funds dated 07/10/12
- Received said notice on 07/17/12

This Loan is dated 06/25/12 and was funded on 06/28/12. We have a copy of the Application in file, which shows payment of premium via EFT on 06/25/12. The application shows the account number and payment amount and date paid.

Today we receive notice from Fidelity National Indemnity Insurance Company that the payment was rejected and if payment is made within 90 days they will honor the policy with a 30 day waiting period. Customer went right down to the agent immediately following our phone call this morning and paid the premium.

Customer tell us that the payment rejection ocurred because by the time they processed his premioum payment the debit card had expired. The agent is telling me that Fidelity will not budge off of the 30 day waiting period.

Anyone have any ideas? I now have documentation in my file that shows a 30 day waiting period from today for a loan funded 06/28!

Not much you can do other than place the above explanation in a file memo to explain what happened.

Thank you Dan. I was afraid of that.

By the way, it is not Fidelity that won't budge. They missed their payment deadline with NFIP. It is an NFIP rule.

Thanks for clarifying that Randy.

Just wanted to post that the flood policy came in and was back dated to the original date. I was diligent enough to paper up my file about this whole debacle to show that we followed the letter of the law. If it wasn't for my documents this file would look beautiful. :sigh: