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#2189349 - 08/16/18 02:26 PM LOMA-New Flood Determination
George Offline
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Joined: Apr 2016
Posts: 364
Are we required by reg to get an updated SFHDF once we receive a LOMA? I haven't read anything saying we do, but want to make sure I am not missing anything.

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Flood Compliance
#2189365 - 08/16/18 03:27 PM Re: LOMA-New Flood Determination George
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 79,283
Galveston, TX
Has there been a MIRE event?
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#2189370 - 08/16/18 03:37 PM Re: LOMA-New Flood Determination George
George Offline
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Joined: Apr 2016
Posts: 364
No sir. It was a new loan that came back as flood zone. The customer had a LOMA completed that removed the structure.

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#2189440 - 08/16/18 06:51 PM Re: LOMA-New Flood Determination George
Moman Offline
Platinum Poster
Joined: Jul 2004
Posts: 505
WA
I always have the original FZD updated or a new one issued to reflect the LOMA; That way it gives a 2nd look to validate the legitimacy of the LOMA.

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#2190575 - 08/24/18 07:31 PM Re: LOMA-New Flood Determination George
Nicole A Offline
Junior Member
Joined: Feb 2016
Posts: 41
Agreed with Moman. It is our policy to have an existing determination updated to reflect the LOMA.

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#2190835 - 08/28/18 03:50 PM Re: LOMA-New Flood Determination George
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
As others have pointed out, it's a policy or best practice of many, but it's not a regulatory requirement.
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