Bank forecloses on residential property in flood zone. Is flood insurance required while the property is owned by the bank?

Basically, yes.

Was there pre-existing coverage in effect before foreclosure? Did it terminate at foreclosure?

It wouldn't be a designated loan as we work with daily, but if there is a risk to a bank asset, it should be mitigated. I don't have a cite, but remember what we tell customers, "Flooding for structures in a SFHA is much higher than the risk of fire. Over the life of a 30-year mortgage, a property located in a SFHA has a 26 percent chance of being flooded, compared with a one percent chance of a loss caused by fire."

No insurance required. Same as if you had a branch in a flood zone without insurance.

Yes, there was flood insurance on the loan before foreclosure.