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#49088 - 12/16/02 10:07 PM Flood Insurance
lrabon Offline
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lrabon
Joined: Jun 2002
Posts: 20
Is it a federal requirement on a construction loan that is to be located in a flood zone to have a flood elevation certificate in the file? Do any lenders require this document? Isn't this a document that the insurance company usually gets and retains?

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Lending Compliance
#49089 - 12/16/02 10:29 PM Re: Flood Insurance
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,752
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It is not a requirement. It can be used to help obtain the LOMA/LOMR. I don't know if it effects the insurance premium but I can see that it would.
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