We recently closed a loan and later realized that we did not have enough flood insurance coverage. We sent the 45 day letter to the customer with no response. We tried to force place insurance for the shortage and received a message that FEMA no longer permits force placed insurance for insufficient coverage. We are working with the customer and his insurance company, but the customer is not responding. If the customer does not agree to add this coverage, what are our options?

Call the loan or find a private force placed insurer.

Thank you!