We are faced with a flood situation, we haven’t dealt with prior. We have a customer who has filed Chapter 11 bankruptcy, but it hasn’t been accepted by the court yet. The loan matured back in May. Would this bankruptcy filing and the matured loan be considered a MIRE event, and trigger a new flood determination and Notice of Special Flood Hazards? And if so, does notification go to the borrower and/or attorney? The borrower does have adequate flood insurance in place. Wondering what is required flood compliance-wise with this scenario. Thanks.

Not sure why filing bankruptcy is a MIRE event. Any communication however has to be done through their attorney,

The loan has matured, and it will most likely be re-written. This is a MIRE event, triggering the flood requirements, correct?

Not until any of that is approved by the bankruptcy court.

Right, but then it is a MIRE event.

I was trying to answer your original question below. Which has now morphed to what happens after discharge.

Would this bankruptcy filing and the matured loan be considered a MIRE event,