Flood Insurance: Compliance Issues and Enforcement Topics That Continue to Plague Lenders Webinar
This webinar will concentrate on some of the more vexing issues in flood compliance, such as monitoring, contents coverage, and the ever-present condo problem, by talking through sample scenarios and explaining best practices in keeping your portfolio covered.
Webinar Description and Intended Audience
The flood insurance regulations have been around since 1996, yet examiners continue to cite numerous violations and fines. Flood has been announced as one of the regulators’ principal areas of concern. We’ve also had changes in the law, with the Biggert-Waters Flood Insurance Reform Act of 2012, that has influenced compliance efforts.
There are still significant issues out there, which the regulators are still attempting to deal with through their questions and answers process. There were finally some clarifications issued on a few issues, but questions remain. A quick look around also shows that more than a few lenders out there are being fined for flood problems, and the penalty amounts are not a laughing matter.
We’ll concentrate on some of the more vexing issues in flood compliance, such as monitoring, contents coverage, and the ever-present condo problem, by talking through sample scenarios and explaining best practices in keeping your portfolio covered.
•What exactly do the flood insurance rules cover?
•What is a covered structure or an insurable mobile home?
•Determinations: when you must do them, reliance upon previous determinations, disputes over their results, and the role of life-of-loan coverage
•Flood zone discrepancies – how to deal with them
•Insurable value – what is it and how is it calculated?
•Coverage Amounts: “Normal” situations, condo coverage, multi-structure, and construction situations
•”Knowledge is King” – when you have to know
•Documentation and retention: the Standard Flood Hazard Determination Form, notice to customers, and proof of insurance
•What do you have to monitor?
•The types of policies and their limitations, including NFIP (National Flood Insurance Program) and private policies
•Force-placing insurance – why and how
•Insurance premiums and Congressional action
•Increasing regulatory expectations
Who Should Attend?
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.
Webinar Viewing Options
INCLUDES SEVEN DAYS OF ONDEMAND PLAYBACK! With this option, you will participate in the webinar (via the internet) as it is being presented. You will login to the webinar on your PC to view the PowerPoint presentation, and you have the option of using your PC speakers or a telephone for the audio. Participants can type and send their questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate in the same room.
SIX MONTH ONDEMAND VIDEO RECORDING:
With this option, you will receive an e-mail that contains a link to the PowerPoint slides (to download, print, and copy) as well as a link to the media player where you will view and hear the entire webinar just as it was delivered, featuring the full-color PowerPoint presentation with audio. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. The weblink will be available to you (and anyone else in the company) for up to six months and can be accessed 24/7 as many times as you wish. Delivered via e-mail the day after the webinar takes place.
CD-ROM VIDEO RECORDING:
If you do not have internet access or want to make the webinar part of your training library, the CD-ROM Recording is a great option for viewing a webinar. You can pause, fast-forward and rewind as needed, which makes it an effective training tool. With this option, you will receive a download of the PowerPoint slides and a CD-ROM Recording (featuring PowerPoint presentation with audio) of the webinar via regular mail. Mailed 7 to 10 days after the webinar takes place.
Webinars can be scheduled and offered exclusively for your company. They can even be customized to best fit your needs. To find out more, please complete the in-house request form found in the Schedule and Registration Information section below.