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Reg on Flood Certificates for Prop Not Collateral?

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Question: 
I am currently processing a real estate loan in which the collateral is a mobile home park but does not include the mobile homes (7.3 acres land and improvements consisting of the office/common area building only). The flood cert on the entire property came back as not in a flood zone. I have now been told, "Although we are not taking the mobile homes as collateral, since we are aware that they exist on this property, we must do our due diligence and order a flood determination on each building as well as each mobile home". Are you aware of any requirement for banks to order flood certs for property that is not being taken as collateral?
Answer: 

Whoever is "telling you" this is way off base. Turn the tables on them and insist they provide you with the written requirement and stop chasing your tail.

First published on BankersOnline.com 12/10/12

First published on 12/10/2012

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