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#1822373 - 06/11/13 03:31 PM Sending flood reminder letter to all borrowers in
midwestriver Offline
Junior Member
Joined: May 2011
Posts: 37
We were told we are required to be sending a "reminder" letter to all borrowers in a SFHA 30 days prior to their flood insurance policy expiring just as a reminder. This is for the borrowers with their own flood insurance and not force placed and we are not sure this is actually required.

Does anyone know if this is required, if so where? Thanks!

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Flood Compliance
#1835072 - 07/22/13 03:50 PM Re: Sending flood reminder letter to all borrowers in midwestriver
midwestriver Offline
Junior Member
Joined: May 2011
Posts: 37
anyone heard of this? Thanks!

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#1835076 - 07/22/13 03:51 PM Re: Sending flood reminder letter to all borrowers in midwestriver
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
We do it, but it's not a requirement of the regulation. We then send the 45 day flood notification letter at expiration.
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#1835178 - 07/22/13 06:37 PM Re: Sending flood reminder letter to all borrowers in midwestriver
Dani York, CRCM Offline
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Dani York, CRCM
Joined: Apr 2005
Posts: 3,663
TN
The borrowers' insurance company already sends them this notice as required by the insurance manual (the one that says "Hey, your insurance will expire on X. Please pay your renewal premium"). There is no need for the bank to do it unless they just want to waste paper and a stamp.
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#1835752 - 07/23/13 11:24 PM Re: Sending flood reminder letter to all borrowers in midwestriver
midwestriver Offline
Junior Member
Joined: May 2011
Posts: 37
thanks!

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