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#2238449 - 06/22/20 06:56 PM Previous Flood Determination
Vander Offline
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Vander
Joined: Jul 2003
Posts: 216
Texas
If we have a loan on the books that is in a flood zone, we have current insurance, etc., and that loan is renewed, we should be able to rely on a previous determination if it is less than 7 years old, etc. Right?

If we relied on a previous determination for a renewal of a "flood" loan that is on our books, are we required to get a new acknowledgement at renewal?

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Flood Compliance
#2238451 - 06/22/20 07:08 PM Re: Previous Flood Determination Vander
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,310
Galveston, TX
If the same FIRM is in effect then the FHD can be re-used. The Borrower Notice of Special Flood Hazards would have to be delivered again however.
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2238452 - 06/22/20 07:14 PM Re: Previous Flood Determination Vander
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 79,310
Galveston, TX
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2238457 - 06/22/20 08:07 PM Re: Previous Flood Determination Vander
Vander Offline
100 Club
Vander
Joined: Jul 2003
Posts: 216
Texas
Thanks! That's what I thought, but couldn't put my hands on it!

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