Compliance with the flood insurance regulations should be easy – determine where the property is, and if it’s in a flood zone, require insurance. Simple, right? Why then are there so many violations and penalties? The answer, of course, is that this seemingly simple issue has many complexities. The rules have been around since 1996, yet examiners continue to cite numerous violations and fines. Flood is always one of the regulators’ principal areas of concern. We’ve also had many changes in the law over the years. And now (finally) we have updated Interagency Questions and Answers that clarify many points regarding the changes, which is certainly welcome.
There are many significant issues out there. In this webinar, we’ll concentrate on them, including monitoring, contents coverage, private policies, amount of coverage, force-placement, and the ever-present condo problem, by talking through sample scenarios and explaining best practices in keeping your portfolio covered.
This interactive session will give an in-depth understanding of these rules and is imperative for anyone performing duties in real estate lending areas of the financial institution. This includes loan officers, supervisors, auditors, closing agents, compliance officers, trainers and others working in these types of positions.
Continuing Education (CE) Credits
This webinar is recommended for 2.5 CE Credit Hours. Each attendee will receive a Certificate of Attendance for self-reporting of CE Credits.