We have a loan application where there are 2 pieces of property being taken as collateral. Our borrowers own 1 piece of the property but the other piece is owned by the parents of the primary borrower. This second piece of property is in a flood zone. Who must sign the Flood Notice?

§ 339.9 Notice of special flood hazards and availability of Federal disaster relief assistance.

(a) Notice requirement. When an FDIC-supervised institution makes, increases, extends, or renews a loan secured by a building or a mobile home located or to be located in a special flood hazard area, the FDIC-supervised institution shall mail or deliver a written notice to the borrower and to the servicer in all cases whether or not flood insurance is available under the Act for the collateral securing the loan