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#32893 - 09/16/02 06:13 PM Flood and abundance of caution
Love those Regs Offline
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Joined: Apr 2002
Posts: 296
Southern State
When real estate is taken as an abundance of caution, must we still complete a flood determination? I do not see that it is an exception and a determination would be necessary but wanted to check with others.
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Lending Compliance
#32894 - 09/16/02 06:15 PM Re: Flood and abundance of caution
Andy_Z Offline
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Andy_Z
Joined: Oct 2000
Posts: 27,750
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Yes.
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#32895 - 09/16/02 06:45 PM Re: Flood and abundance of caution
BankerInAL Offline
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BankerInAL
Joined: Sep 2002
Posts: 13
Alabama
See BankersOnline article BankersOnline

It has a nice little summary of the flood regs including the abundance of caution issue. If you want to read the complete reg go to NFIP

I had to do some research on this topic recently. I hope this helps.

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#32896 - 09/16/02 06:53 PM Re: Flood and abundance of caution
Love those Regs Offline
Gold Star
Joined: Apr 2002
Posts: 296
Southern State
Thank you both!
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