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#1611350 - 09/30/11 07:18 PM Notification needed?
WHAT ?!?! Offline
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WHAT ?!?!
Joined: Dec 2006
Posts: 67
We are doing a re-finance of a loan for a piece of land that is in a flood zone. There are not any buildings or are there any plans to build anything on this piece of land. Do we need to have documentation that we notified the customer this piece of land is in a flood zone?

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Flood Compliance
#1611370 - 09/30/11 07:28 PM Re: Notification needed? WHAT ?!?!
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,533
Bloomington, IN
No. If there are no buildings securing the loan then it is not a designated loan and is not subject to the flood insurance rules.
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The opinions expressed are mine and they are not to be taken as legal advice.

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