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Flood Certification Frustration

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We requested a flood certification from a vendor which came back saying they needed time to research. In the meantime, we submitted the request to another vendor. The initial request came back with the property in a flood zone whereas the second request came back not in a flood zone. We have a flood certification dated June 2008 from the original vendor for the same property showing that the property is not in a flood zone. We have life of loan monitoring and have not received any updated information from them. How should we proceed?

You should have a conversation with your vendors to reconcile the discrepancy in addition to checking the FEMA maps to see if there is a difference, such as updated maps. Although you rely on a third party for the determination, the accuracy of the determination falls on you the financial institution.

First published on 5/11/09

First published on 05/11/2009

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