§339.5(d)(2) [the FDIC's version] states:
(2) Notice. For any loan subject to paragraph (d) of this section, the FDIC-supervised institution, or a servicer acting on its behalf, shall mail or deliver to the borrower no later than June 30, 2016, or September 30 of the first calendar year in which the FDIC-supervised institution has had a change in status pursuant to paragraph (c)(2) of this section, a notice in writing, or if the borrower agrees, electronically, informing the borrower of the option to escrow all premiums and fees for any required flood insurance and the method(s) by which the borrower may request the escrow, using language similar to the model clause in appendix B.
The model clause in App B finishes with this:
To choose this option, follow the instructions below. If you have any questions about the option, contact [Insert Name of Lender or Servicer] at [Insert Contact Information].
[Insert Instructions for Selecting to Escrow]
The regulators left the options open and dictate a specific way it had to be done. It doesn't say the borrower has to check a box, call, not call, etc. I think providing a phone number is fine Lakeminded. For instance, you could say "If you have any questions about this option or to opt-in, please call xxx". I think the method Compl101TX illustrates is also fine.
Our clients are telling us that very few, if any, are opting in to the escrow. VERY few.