Is an Accord acceptable to evidence loss payee/mortgagee on a regular NFIP policy? For example a customer already has a flood policy in place and comes in for a home equity loan. Would we be able to accept the current Declarations page and then an Acord from the agent showing the bank is being added as loss payee? It has been our understanding that this is not acceptable and that we need to wait and obtain an updated Declarations page from the agent (who has to obtain it from the insurance carrier).

You must wait for the updated Declarations page from the agent. The only time an Accord for loss payee/mortgagee is acceptable would be with an RCBAP policy. You would request an Accord and include the unit number with the address.

The only time an Accord for loss payee/mortgagee is acceptable would be with an RCBAP policy.

Care to explain? The mortgagee of an individual unit has no right to any RCBAP insurance proceeds. It is a meaningless piece of paper.