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#2143269 - 08/23/17 04:38 PM Notice to Borrower of Flood Remap - In Flood Zone
Nanda Offline
Junior Member
Joined: Nov 2015
Posts: 25
When CoreLogic notifies that a property in now in a flood zone, is it required that we send the Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance from Appendix A of the regulation? Or is it acceptable to follow the Force Placement Procedures and mail a 45-day letter to the borrower informing them of the map change and their requirement to obtain flood insurance?

In the FDIC Exam Manual under the Force Placement Procedures it states there is no required form of notice to borrowers for use in connection with the force placement procedures. I'm just trying to understand if those are the procedures we are to follow for a "remap-in" situation.

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Flood Compliance
#2143301 - 08/23/17 05:49 PM Re: Notice to Borrower of Flood Remap - In Flood Zone Nanda
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,219
Galveston, TX
On a re-map, you are required to do both and since you have to prove delivery of the Notice of Special Flood Hazards and Availability of Federal Disaster Relief Assistance most bank send these certified mail rather than trying to get a signature.
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