Flood Coverage and- Cross Collateralized Loans

Posted By: Love Cruising

Flood Coverage and- Cross Collateralized Loans - 08/03/15 05:09 PM

If I have a line of credit for investments purposed for my company and I have it cross collateralized with a R/E loan, should I provide my renewal line of credit with a Flood Notice due to being cross collateralized with a R/E secured loan?
Posted By: Dan Persfull

Re: Flood Coverage and- Cross Collateralized Loans - 08/04/15 03:37 PM

Yes if the property securing the loan is located in a SFHA. See 339.9.