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Timeframe to Provide Flood Insurance Follow Up

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There was a question: <a href="">Timeframe to Provide Flood Insurance</a>, regarding a loan that fell into a flood zone as a result of a mapping change. The guru responded, "You need to send the borrower the Notice of Special Flood Hazard..." I could not find where this was a requirement in FEMA, any ideas? It does not fall under the Make, Renew, Extend or Increase criteria for a flood notice.

See 339.7. Also see the "tripwires" on page 54 of the Mandatory Purchase of Flood Insurance Guidelines.

First published on 12/07/09

First published on 12/07/2009

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Filed under lending as: 

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