We have had several loans lately where the seller of the property tries to transfer their flood policy to the buyer. In the case of the one I looked at today, renewal is not until August for the policy they already have in place. Has anyone come across a similar situation and can give some guidance into whether they would allow this? I (along with risk management) have a problem with it, but the lenders continue to push in order to prevent postponing closing.

If you get a properly completed endorsement from the insurance agent you should be good to go. Happens all the time.