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#1948097 - 08/01/14 12:36 PM Flood Notice at MIRE
ynot Offline
Member
Joined: Sep 2011
Posts: 81
Florida
When we MIRE and there are multiple buildings on the property located in a SFHA, are we required to send a flood notice for each building located in the SFHA or is one notice for the loan sufficient? When we send the notice, we always send a cover letter with other pertinent information.

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Flood Compliance
#1948246 - 08/01/14 04:03 PM Re: Flood Notice at MIRE ynot
Carolina Blue Offline
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Carolina Blue
Joined: Jul 2005
Posts: 952
Lost in a regulatory fog
If it's all one parcel, then you will only need to send one notice and then use an additional letter to explain the required coverage for each building.

If they are separate parcels, then you need to send a notice for each parcel.

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#1950013 - 08/07/14 01:44 PM Re: Flood Notice at MIRE ynot
NE Wx Forecast - Frosty Offline
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NE Wx Forecast - Frosty
Joined: Mar 2011
Posts: 442
SE, Nebraska
Isn't this the same as saying the number of notices and determination forms should match?

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#1950042 - 08/07/14 02:11 PM Re: Flood Notice at MIRE ynot
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,710
Bloomington, IN
If they are separate parcels, then you need to send a notice for each parcel.

I understand that a separate determination must be obtained for adjoining properties but I'm not aware of any guidance that mandates a separate notice be sent for each parcel when multiple parcels are securing the loan.

We send one notice identifying each property located in a SFHA.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#1950174 - 08/07/14 03:50 PM Re: Flood Notice at MIRE ynot
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
I agree with Dan. The only reason to separately identify parcels would be if some buildings are in a SFHA and some are not. There is no rule that says you must give a notice for each parcel/building.
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David Dickinson
http://www.bankerscompliance.com

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#1951667 - 08/11/14 07:25 PM Re: Flood Notice at MIRE ynot
ynot Offline
Member
Joined: Sep 2011
Posts: 81
Florida
Thank you for the information Dan and David.

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