We run flood determinations on all loans. Both vacant and improved. If a vacant lot loan comes back on a flood zone , do we have to wait 10 days to close the loan?

Why are you even running flood on vacant land??

Flood determinations are pulled out on every loan, vacant or improved, to inform borrower. Must we still wait the waiting period to be able to close?

The point is that there is no requirement to pull a flood determination on vacant land. So, there should not be a question. You are under no obligation to inform the borrower about anything. Basically, it is a waste of your client's money at this point in time.

Let alone, you are most likely providing them a notice that is telling them something that is not true:

We are giving you this notice to inform you that:

The building or mobile home securing the loan for which you have applied is or will be located in an area with special flood hazards.

Ok, thank you for the information.