Skip to content
BOL Conferences
Thread Options
#2178662 - 05/18/18 02:00 PM LOMC Question
MBrownie Offline
Member
MBrownie
Joined: May 2015
Posts: 96
Customer has acreage in SFHA. He obtained a LOMC last year. He now has applied for a construction loan and is building the new house "exactly" where the old house currently is. Going to tear down and rebuild.

I question whether the LOMC would still be valid? Wouldn't that affect the survey that the LOMC was based on? Customer is adamant that he will not purchase flood insurance and we are stalled.

Cannot find any exact relevant information on FEMA. Maybe I'm misunderstanding LOMC. Help appreciated!!

Return to Top
Flood Compliance
#2178665 - 05/18/18 02:09 PM Re: LOMC Question MBrownie
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
A LOMC is based on the property and not on the structures that exist on it. It removes the property from the flood area. Changing the structures on the property would have no impact. LOMCs are only overwritten when a new FIRM is issued.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top