Skip to content

Model Letter for Extending Offer to Escrow (Flood)

Answered by: 

Question: 
Is there a model letter that is available to send to borrowers to extend the offer to escrow for flood insurance on their loans, if the loan is still outstanding on 12/31/15?
Answer: 

There is model language in the new Appendix B to section 208.25 of FRB Regulation H, available here: https://www.bankersonline.com/regulations/12-208-025

You'll find the new Appendix B at the very bottom of that page.

You should use the model language, followed by instructions to the borrower on how to proceed to take advantage of the escrow option.

Each prudential regulator has made similar changes to its regulations on Loans in Areas Having Special Flood Hazards.

First published on 10/11/2015

Filed under: 
Filed under compliance as: 
Filed under lending as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics