Flood Audit Procedures & Biggert-Waters

Posted By: complygirl

Flood Audit Procedures & Biggert-Waters - 06/11/15 08:22 PM

Does anyone have flood audit procedures that have been updated to include all the Biggert-Waters changes? If so, are you willing to share?
Posted By: rlcarey

Re: Flood Audit Procedures & Biggert-Waters - 06/13/15 01:34 AM

What changes besides the increased flood insurance available on certain property types?
Posted By: complygirl

Re: Flood Audit Procedures & Biggert-Waters - 06/16/15 08:55 PM

What ever became of the Homeowner Flood Insurance Affordability Act? and the escrow requirement under BW?
Posted By: Reads Regs

Re: Flood Audit Procedures & Biggert-Waters - 06/16/15 11:03 PM

The FDIC's Board approved a final rule today that addresses the flood escrow provision, detached structures, force placement of flood, and changes to the flood disclosure. They said they would address private flood insurance in a separate rulemaking. The escrow provision is effective 1/1/16 and other provisions are effective 10/15/15. The rule is interagency and will also include the FRB, OCC, NCUA, and the FCA. It should be published in the Federal Register soon.

FDIC Staff Memo To Board on Final Rule

FDIC Text of Flood Final Rule in Non-FR Format