We have several loans where the flood certification initially came back in a flood zone, however the borrowers paid for the survey & etc. required to get a letter of map amendment issued. Our area recently went through a map change and we were notified that these properties are now in a flood zone. We spoke with our vendor and they stated since the LOMA predates the map change date, they cannot accept the LOMA. I am not sure how to proceed here. Since FEMA reviewed the survey & etc. and issued the LOMA, shouldn't the propery remain outside the flood zone? Do the borrowers need to go through this process again? Anyone with some insight for me? Thanks in advance!

Good question. I tend to agree with your flood vendor; however, this sounds like something that should be directed to the experts at FEMA. If you email them through the link on their website, they generally get back to you with 48 - 72 hours and this sounds like the kind of straightforward question they can answer authoritatively. (If you don't get an answer here and you do go to FEMA, it would be great if you could post the response here.)

In the meantime, I don't think you have any choice but to start the 45 day process with these loans. The examiners will be all over you if you don't and perhaps a new LOMA -- if necessary -- can be completed in that time.

One question: If these properties are already in a flood zone, why was the area re-mapped? Logically, that doesn't sound like something FEMA would do. Are you sure somebody hasn't made a mistake there?

Good luck.

From what I have read on various town websites discussing remapping, LOMAs can be superseded by subsequent remapping. The municipality receives a list of LOMAs that are superseded as well as those that will remain in place. You might want to check with the municipality first.

LOMAs can also be viewed on the FEMA Map Store and you can tell if any are still valid.

I had this same question a couple years ago. Here's the link to what I found:

http://www.bankersonline.com/forum/ubbth...1132#Post841132

Thank you, thank you for your input!

I have contacted FEMA and if I hear anything different from what Peg heard, I will be sure and post it.

Randy, thanks for the tip on the map store. Not only was that useful today, I can see myself using that often.

Thanks again so much!