Map Change Notice

When a property is remapped into a flood zone, are we required to provide the standard flood notice even though the language references requiring flood insurance prior to loan closing? It seems like a custom letter would be more appropriate, but I don't want to be hit with a citation for not providing the appropriate notice.

You are required to use the standard form. You can always include a cover letter with more explanation.

How many days after you notify the customer should they have flood insurance in place?

Example:

NFIP Revision Date – August 15, 2019
Date of Determination – September 10, 2019
Date Bank Received notification - September 27, 2019
Letter is mailed to the customer with the Standard Form - September 27, 2019

§ 339.7 Force placement of flood insurance.

(a) Notice and purchase of coverage. If an FDIC-supervised institution, or a servicer acting on its behalf, determines at any time during the term of a designated loan, that the building or mobile home and any personal property securing the designated loan is not covered by flood insurance or is covered by flood insurance in an amount less than the amount required under § 339.3, then the FDIC-supervised institution or its servicer shall notify the borrower that the borrower should obtain flood insurance, at the borrower's expense, in an amount at least equal to the amount required under § 339.3, for the remaining term of the loan. If the borrower fails to obtain flood insurance within 45 days after notification, then the FDIC-supervised institution or its servicer shall purchase insurance on the borrower's behalf. The FDIC-supervised institution or its servicer may charge the borrower for the cost of premiums and fees incurred in purchasing the insurance, including premiums or fees incurred for coverage beginning on the date on which flood insurance coverage lapsed or did not provide a sufficient coverage amount.

What is the Standard Form?

https://www.bankersonline.com/regulations/12-208-025

See Appendix A

Is the standard form required?
The standard form mentions a loan that has been applied for is or will be located in an area with special flood hazards.

Is it acceptable to use the Force Placed Flood Insurance form as this is covered under the FP rules:

§ 339.7 Force placement of flood insurance.
determines at any time during the term of a designated loan, that the building or mobile home and any personal property securing the designated loan is not covered by flood insurance or is covered by flood insurance in an amount less than the amount required under § 339.3, then the FDIC-supervised institution or its servicer shall notify the borrower that the borrower should obtain flood insurance, at the borrower's expense, in an amount at least equal to the amount required under § 339.3, for the remaining term of the loan.