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#982395 - 06/25/08 09:14 PM Flood determination date
Tillie Offline
Gold Star
Tillie
Joined: Apr 2003
Posts: 266
It took several months to convince the company that does our determinations that they had made a mistake and the property securing the loan is not in a flood hazard zone. They originally determined that it was.
They have issued us another SFHD form with the current date in the "Date of Determination" box but typed "Originally Completed (date of first determination)" in the Comments section.
My question is - Which date do we rely upon if 6 years from now we rewrite the loan using this property as collateral? Can the determination be relied upon for 7 years from the current date or the original date?

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Lending Compliance
#982507 - 06/26/08 12:48 AM Re: Flood determination date Tillie
Ray_ Offline
Platinum Poster
Joined: Aug 2006
Posts: 879
Dallas, TX
If the first determination was deemed to be incorrect, you should be able to use the date of the correct determination. Put both determinations in the file for a paper trail.

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#982542 - 06/26/08 04:03 AM Re: Flood determination date Ray_
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 83,368
Galveston, TX
Just order a new determination and don't worry about it. It's only a couple of bucks and would be more effective than pulling the maps to document the fact that the maps have not been updated in order to use the previous determination.
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