Skip to content
BOL Conferences
Thread Options
#42963 - 11/14/02 07:23 PM Flood changes - historic
Bartman Offline
Diamond Poster
Bartman
Joined: Oct 2000
Posts: 1,191
Springfield
I'm reviewing all my loans secured by structures in flood hazard areas, and I've come across one that originated in 1994. It has a flood hazard determination, and it has insurance in force - but it doesn't have the formal notice to the borrower. When was the notification requirement first imposed?
_________________________
Opinions are Bartman's, not those of my employer. "A noble spirit embiggens the smallest man."

Return to Top
Lending Compliance
#42964 - 11/14/02 07:31 PM Re: Flood changes - historic
Andy_Z Offline
10K Club
Andy_Z
Joined: Oct 2000
Posts: 27,748
On the Net
I don't know when it was first required. We've been doing it forever. More specifically I went to Compliance School in 1990 and it was required then. As I recall, forms were not necessarily standardized then, but there were content requirements, i.e participating, nonparticipating, etc.
_________________________
AndyZ CRCM
My opinions are not necessarily my employers.
R+R-R=R+R
Rules and Regs minus Relationships equals Resentment and Rebellion. John Maxwell

Return to Top

Moderator:  Andy_Z