Skip to content
BOL Conferences
Thread Options
#814318 - 09/13/07 12:28 PM New MPFIG
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
I haven't checked this out yet but thought I'd go ahead and post the links.


-----Original Message-----
From: Expert-Support [mailto:Expert-Support@nfipstat.com]
Sent: Wednesday, September 12, 2007 5:51 PM
To: Dan Persfull
Subject: FW: Closing a Renewal With Force Placed Coverage (Customer Number-XXXXX)


Dear Mr. Persfull,



We received notice this afternoon that the new edition (September 2007) of the Mandatory Purchase of Flood Insurance Guidelines is available:

Resource File:
http://www.fema.gov/library/file;jsessio...50-000bdba87d5b (PDF 833K)

508 Accessible Format:
http://www.fema.gov/library/file;jsessio...50-000bdba87d5b (txt 376K)




Thank you,

The NFIP Help Center / KEB


_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
Lending Compliance
#814330 - 09/13/07 12:47 PM Re: New MPFIG Dan Persfull
Sinatra Fan Offline
Power Poster
Sinatra Fan
Joined: Jul 2002
Posts: 5,568
New Jersey
Yup, it's there: 140 page .pdf file. Thanks for the "heads up" and the links, Dan!
_________________________
Management is doing things right; leadership is doing the right things. Peter Drucker

Return to Top
#814467 - 09/13/07 02:48 PM Re: New MPFIG Sinatra Fan
pjs Offline
10K Club
pjs
Joined: Aug 2004
Posts: 10,321
oHiO
Thanks Dan too.

Return to Top
#814476 - 09/13/07 02:56 PM Re: New MPFIG pjs
Rocky P Online
Power Poster
Joined: Jun 2003
Posts: 7,650
Florida
Thank you - now for some light reading over the weekend.
_________________________
Integrity. With it, nothing else matters. Without it, nothing else matters.

Return to Top
#815344 - 09/14/07 03:02 PM Re: New Mand. Purchase of Flood Ins. Guidelines Dan Persfull
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,307
Thanks for the links.

FEMA still has the 1999 version of the booklet on its web site. They have it broken up into smaller PDF files for various sections. See the following web page. http://www.fema.gov/business/nfip/mpurfi.shtm

The links Dan provided take you to the new booklet in a single PDF file. Perhaps FEMA is working on breaking up the new booklet into smaller sections and will soon remove the 1999 version and replace it with the new one.
_________________________
Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

Return to Top
#816808 - 09/17/07 09:35 PM Re: New Mand. Purchase of Flood Ins. Guidelines Reads Regs
SMQ, CRCM Offline
Power Poster
SMQ, CRCM
Joined: Apr 2001
Posts: 4,828
Between the lines
Has anyone found a summary of changes yet?
_________________________
NOLA is my Beach!

Return to Top
#816978 - 09/18/07 02:03 PM Re: New Mand. Purchase of Flood Ins. Guidelines SMQ, CRCM
Timex Offline
Member
Joined: Dec 2005
Posts: 60
I couldn't find a way to get it in the book form. Has anyone seen a way to get a book? Do they usually offer the book a few days after the PDF is online, or is there no hope for a book? Thanks.

Return to Top
#817011 - 09/18/07 02:25 PM Re: New Mand. Purchase of Flood Ins. Guidelines SMQ, CRCM
M Cockrell Offline
Diamond Poster
M Cockrell
Joined: Jan 2003
Posts: 1,046
Dallas, TX
not yet, but pg 10 of the resource file lists "highlights"
_________________________
"Remember no man is a failure who has friends." - Clarence (the Angel) Oddbody - It's a Wonderful Life

Return to Top
#817012 - 09/18/07 02:26 PM Re: New Mand. Purchase of Flood Ins. Guidelines SMQ, CRCM
LoisLane Offline
Diamond Poster
LoisLane
Joined: Oct 2001
Posts: 1,570
Wisteria Lane..
Originally Posted By: SoccerMomQueen
Has anyone found a summary of changes yet?


HIGHLIGHTS OF THE 2007 EDITION
--Includes discussion of the legislative history of the NFIP and describes the federally regulated lending agencies and the types of lending institutions they each supervise.
--Incorporates flowchart illustrating mandatory purchase process at loan origination. (Section A)
--Includes link to information about the NFIP and levees.
--Clarifies processing information for Letters of Map Change. (Section B)
--Explains options for purchasing coverage for buildings in the course of construction. Specifies that there is no 30-day waiting period for this coverage. (Section C)
--Includes the Program change that effective October 1, 2007, the Declarations Page of each Residential Condominium Building Association Policy (RCBAP) issued or renewed must
show the building’s Replacement Cost Value (RCV) and the number of units within that building. (Section D)
--Recommends 100-percent RCV for RCBAP coverage. Clarifies application of coinsurance penalties and loss assessments. Updates deductible information for Government-Sponsored
Enterprises. (Section D)
--Incorporates flowchart describing tripwires during the life of loan. Expands discussion of regulatory penalties. (Section E)
--Updates language referencing NFIP history and legal citations. (Appendix 1)
--Provides version of federally regulated agency lender regulations. (Appendix 2)
--Includes most current Standard Flood Hazard Determination Form. (Appendix 3)
--Provides two separate Sample Notices of Special Flood Hazard and Availability of Federal Disaster Relief Assistance – one for participating communities and one for non-participating
communities. (Appendix 4)
--Provides contact information for federally regulated lending agencies, GSEs, and flood-related resources. (Appendix 5)
--Expands waiting period discussion to correspond with the NFIP Flood Insurance Manual. (Appendix 6)
--Updates the Mortgage Portfolio Protection Program information. (Appendix 7)
--Updates the Glossary for consistency with the Flood Insurance Manual. (GLS)
--Expands the Index. (IND)
_________________________
And where is Superman when I need him?

Return to Top
#817204 - 09/18/07 04:55 PM Re: New Mand. Purchase of Flood Ins. Guidelines LoisLane
Tillie Offline
Gold Star
Tillie
Joined: Apr 2003
Posts: 266
I was hoping to get a hard copy of booklet, too. It doesn't look like there is one available at this time.
Does anyone have any more information?

Return to Top
#817211 - 09/18/07 05:03 PM Re: New Mand. Purchase of Flood Ins. Guidelines Tillie
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
I spoke with Lena Thompson from FEMA today. Printed copies of the manual will be available in "early December". FEMA will post a notice on their website. There will be no charge for the booklet.

I'm also working on the changes. BOL is offering a webinar on the new Guidelines (I'm presenting and that's the earliest BOL and I could get together) on December 5th. I'm sure you'll be seeing the emails and announcements.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top
#817213 - 09/18/07 05:04 PM Re: New Mand. Purchase of Flood Ins. Guidelines Tillie
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,517
Bloomington, IN
The release just came out a few days ago and I'm sure most of us are still reading through it. In fact I've been so busy I haven't had a chance to read it at all yet.

I have no idea when the hard copies will be available. I do have it printed out and in a 3-ring binder though.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

Return to Top
#817266 - 09/18/07 05:42 PM Re: New Mand. Purchase of Flood Ins. Guidelines Dan Persfull
waldensouth Offline
Power Poster
waldensouth
Joined: Nov 2001
Posts: 7,983
FINALLY ABOVE the gnat line
Yes, but will the regulators play nice and go along with the fema guidelines concerning construction loans and the other changes? Any word from the FDIC yet?
_________________________
"Once you learn to read, you will be forever free."

- Frederick Douglass




My Opinion Only.

Return to Top
#817525 - 09/18/07 08:36 PM Re: New Mand. Purchase of Flood Ins. Guidelines waldensouth
David Dickinson Offline
10K Club
David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
There is a new Q&A coming out from the regulators (FFIEC). I've seen the draft of it. My secret, inside sources tell me it will be out by the end of December (we'll see). It addresses construction loans as well as many other issues that FEMA leaves gray.
_________________________
David Dickinson
http://www.bankerscompliance.com

Return to Top
#820285 - 09/21/07 03:05 PM Re: New Mand. Purchase of Flood Ins. Guidelines Reads Regs
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,307
Originally Posted By: Reads Regs

FEMA still has the 1999 version of the booklet on its web site. They have it broken up into smaller PDF files for various sections. See the following web page. http://www.fema.gov/business/nfip/mpurfi.shtm


The link in my post referenced above no longer works. FEMA has removed the 1999 version of the booklet from its web site.
_________________________
Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

Return to Top
#822889 - 09/25/07 08:00 PM Re: New Mand. Purchase of Flood Ins. Guidelines LoisLane
Sinatra Fan Offline
Power Poster
Sinatra Fan
Joined: Jul 2002
Posts: 5,568
New Jersey
Originally Posted By: LoisLane

HIGHLIGHTS OF THE 2007 EDITION
--Includes discussion of the legislative history of the NFIP and describes the federally regulated lending agencies and the types of lending institutions they each supervise.
--Incorporates flowchart illustrating mandatory purchase process at loan origination. (Section A)
--Includes link to information about the NFIP and levees.
--Clarifies processing information for Letters of Map Change. (Section B)
--Explains options for purchasing coverage for buildings in the course of construction. Specifies that there is no 30-day waiting period for this coverage. (Section C)
--Includes the Program change that effective October 1, 2007, the Declarations Page of each Residential Condominium Building Association Policy (RCBAP) issued or renewed must
show the building’s Replacement Cost Value (RCV) and the number of units within that building. (Section D)

--Recommends 100-percent RCV for RCBAP coverage. Clarifies application of coinsurance penalties and loss assessments. Updates deductible information for Government-Sponsored
Enterprises. (Section D)
--Incorporates flowchart describing tripwires during the life of loan. Expands discussion of regulatory penalties. (Section E)
--Updates language referencing NFIP history and legal citations. (Appendix 1)
--Provides version of federally regulated agency lender regulations. (Appendix 2)
--Includes most current Standard Flood Hazard Determination Form. (Appendix 3)
--Provides two separate Sample Notices of Special Flood Hazard and Availability of Federal Disaster Relief Assistance – one for participating communities and one for non-participating
communities. (Appendix 4)
--Provides contact information for federally regulated lending agencies, GSEs, and flood-related resources. (Appendix 5)
--Expands waiting period discussion to correspond with the NFIP Flood Insurance Manual. (Appendix 6)
--Updates the Mortgage Portfolio Protection Program information. (Appendix 7)
--Updates the Glossary for consistency with the Flood Insurance Manual. (GLS)
--Expands the Index. (IND)


This new provision will definitely be helpful in determining the adequacy of coverage for condominium units. We did not see many dec pages with the RCV listed, and it was like pulling teeth to get the information.

Definitely more clarity and detail than before. The 1999 guide simply indicated that RCBAP encouraged at least 80% coverage, while the 2007 guide indicates that FEMA encourages 100% coverage. It also contains a statement that the 80% is an insurance tool and not a compliance tool.
_________________________
Management is doing things right; leadership is doing the right things. Peter Drucker

Return to Top

Moderator:  Andy_Z