If a property is located in Flood Zone X, are we required to have the borrower obtain flood insurance prior to loan closing?

From FEMA:

Flood hazard zones are lettered based on the level and type of flood risk:
•Zone V/VE: An area of high flood risk subject to inundation by the 1% annual-chance flood event with additional hazards due to storm-induced velocity wave action (a 3-foot or higher breaking wave).
•Zone A/AE: An area of high flood risk subject to inundation by the 1% annual-chance flood event.
•Zone AO: An area of high flood risk subject to inundation by 1% annual-chance shallow flooding where average depths are between one and three feet.
•Shaded Zone X: Areas of moderate flood risk within the 0.2% annual chance floodplain; or areas of 1% annual chance flooding where average depths are less than 1 foot, where the drainage area is less than 1 square mile, or areas protected from this flood level by a levee.
•Un-shaded Zone X: Areas of low flood risk outside the 1%- and 0.2%-annual chance floodplains.
•Zone D: Areas where flood hazards are undetermined but flooding is possible.

So, normally you would NOT require flood insurance on improved property in a Zone X.

Ski is right. I'll just simplify: Only A and V zones require insurance.

If a property is in Zone D (undetermined), would you then need to obtain a definitive answer from FEMA as to whether or not flood insurance is required?

Thank you for the reference - I really appreciate it!

I'm working on a property located in flood zone AE, however, I received an NFIP policy that was grandfathered with flood risk/rated zone X. The current zone on the policy is left blank. Can I accept this policy as-is or should I request to have the current zone reflect zone AE? What are my options, If the insurance agent refuse to add the current flood zone? Thanks.

As long as it is marked as Grandfathered - I would not sweat it. If the new flood FAQs are finalized as proposed, a lender no longer has any responsibility for zone mismatches.