our flood determination company has come up with a recertification process whereby if they have issued an existing determination, and 7 years have gone by they will do a recertification and issue a determination with todays date. their procedures are just to check that nothing has changed.
The "too good to be true" part is that this will be done for no charge.
we have several customers coming up on the 7 years where multiple properties are being used so the savings will be considerable.

has anyone else ran into this recertification process......for no cost.?

We're currently looking into our vendor doing re-certifications, and I heard there would a charge which would be about half the normal cost for a new determination. Free does sound a little fishy, but if they amend your contract and put it in writing shouldn't you be okay?

I'm curious though, do you revisit flood after seven years for all your loans?

We get re-certs for no charge from our vendor.

Sounds like a Section 8 violation to me.

Similar to a flood vendor offering a free portfolio review if you signed a contract for flood determinations in the future. Several banks and vendors got whacked on that one.

It's my understanding that many flood vendors have TONS of properties that they are monitoring, but the loans have paid off, refinanced, etc. Thus, they have a lot of wasted time monitoring properties that really don't need to be monitored. This might be a cost reducing way for them to clean up unnecessary monitoring & notifications.

Why not just order a Life of Loan at inception?

Why not just order a Life of Loan at inception?

Because life of loan coverage has no impact the necessity of the lender to recertify a previous flood hazard determination at the time of a future MIRE event.