Has anyone ever experienced changing flood vendors and the new vendor saying some of your current loans that are in the flood zone are now not in a flood zone or vise versa? If you have, what did you do? Go with the new vendor information or leave as is?

Have there been revisions to the flood maps that resulted in the changes? I had that happen with one of our loans.

No there has not. Both use the same maps. One claims they have better technology to see exactly where the flood lines are. What did you do to the one loan you had?

Here is the story
Years ago when we first had to run the flood determinations we used a particular vendor. Several years later we switched to another vendor (I believe for a lower charge. Now that I am in Compliance, I have had to get positive determination reports from our vendor and compare that to our internal report of loans in a flood zone. I am not even able to locate the older vendor to get the positive determination report from them, and it was cited on our last compliance audit. Our solution was to run a new determination using our current vendor and that is the one that came back 'not in a flood zone'. We have since notified the borrower that our bank does not require a copy of his flood insurance policy, we did not tell him that he could cancel. Hope that helps.

Thanks JWills. I appreciate your willingness to share.
Anyone else have any experiences to share?

If you have, what did you do? Go with the new vendor information or leave as is?

For those they are saying are in a SFHA that weren't you most definitely cannot leave as is.

If you do not trust your new vendor's determinations after doing your due diligence before switching to them then I guess I would question why was the switch made?

The regulation allows the bank to rely on 3rd party determinations but it is the bank's ultimate responsibility to ensure the determinations are accurate.

I would suggest you take several of the "questionable" determinations and compare them to the map service on FEMA's Web site for accuracy.

Thanks Dan
I have done all those things and have come to my own conclusion. Just was wondering if this is something common out there when a switch is made and how others have solved it.

I did also compare my new determination to the map and verify that way as well.