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#46927 - 12/04/02 09:02 PM 2002 Compliance Update Phone Seminar
Rick Tryon Offline
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Rick Tryon
Joined: Mar 2002
Posts: 169
Clinton IN, USA
I wanted to clarify something that I thought I heard in the telephone seminar that was put on by Pegasus and hosted by IBA last Monday. I thought Jack Holzknecht said that examiners were looking for lender ID #'s on Flood Hazard Determination forms. I'm pretty sure he said this was a hot button right now. Did anyone else here that or was I a little sleepy?
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Opinions expressed here are mine, not necessarily my employers. This is not legal advice.

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#46928 - 12/04/02 10:07 PM Re: 2002 Compliance Update Phone Seminar
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,530
Bloomington, IN
Rick, I didn't participate in this, but I have heard nothing on it. When you say Lender ID, are you talking about the Lender's Fed ID or the Lender's ID # with the vendor?
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The opinions expressed are mine and they are not to be taken as legal advice.

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#46929 - 12/05/02 12:24 AM Re: 2002 Compliance Update Phone Seminar
RVFlyboy Offline
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RVFlyboy
Joined: Oct 2000
Posts: 5,991
Soaring over Georgia
I have heard this is true directly from our FDIC compliance examiner at a seminar she participated in for our compliance staff. They are finding many flood vendors are leaving off the Lender ID# (which is your FDIC Certificate number) from the determination form.
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Jim Bedsole, CRCM, CBA, CFSA, CAFP
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#46930 - 12/05/02 12:40 PM Re: 2002 Compliance Update Phone Seminar
Skittles Online
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Skittles
Joined: Sep 2002
Posts: 13,965
TN
At my previous employer we were written up for not having them. It's such a minor issue that many banks overlook it. It's supposed to be so FEMA can track, by bank, property in flood prone areas - or something like that.
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#46931 - 12/12/02 07:53 PM Re: 2002 Compliance Update Phone Seminar
Rick Tryon Offline
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Rick Tryon
Joined: Mar 2002
Posts: 169
Clinton IN, USA
Folks- Thanks for the responses. I forgot to scroll down and see if there were any new posts in this forum! It looks like our flood vendor has been leaving the Lender ID. No. (box #3) blank on all of our determinations. The good news is they are now using the updated SFHD form!
_________________________
Opinions expressed here are mine, not necessarily my employers. This is not legal advice.

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