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#2258995 - 08/31/21 02:43 PM Escrow Flood Insurance
Lori Offline
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Joined: Oct 2018
Posts: 36
We have a customer that has land only, he is taking a loan out to build a storage building, he is in a flood zone, do we have to escrow the flood insurance.

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Escrows on Higher-Priced Mortgages
#2259000 - 08/31/21 03:13 PM Re: Escrow Flood Insurance Lori
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,364
Bloomington, IN
See 339.5.
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The opinions expressed are mine and they are not to be taken as legal advice.

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#2259001 - 08/31/21 03:14 PM Re: Escrow Flood Insurance Lori
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 76,944
Galveston, TX
I would say no since it is not "any designated loan secured by residential improved real estate or a mobile home".
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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#2259002 - 08/31/21 03:17 PM Re: Escrow Flood Insurance Lori
Lori Offline
Junior Member
Joined: Oct 2018
Posts: 36
Thanks

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