There are a few areas/States that still apparently offer these policies, but it has been a long time since I saw one. They were acceptable at the time. In the middle of the NM desert, they are probably still available
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Is there anywhere I can find guidance that states this is acceptable. We are getting these policies and the bank is talking about requiring the borrower to go out and get a separate flood policy. THANK YOU!!!!
Update: State Farm is no longer going to do this here..instead they will be requiring their policyholders to obtain a separate flood policy written through NFIP. I'm thinking this is going to hit some borrowers in the pocket pretty hard.
My opinion only. Not legal advice.