Top 10 Most Frequent Flood Insurance Issues Webinar

Flood Insurance rules have changed continuously over the past few years. On July 6, 2012 Congress passed the Biggert-Waters Flood Insurance Reform Act (Biggert-Waters). On March 23, 2014 Congress passed the Homeowner Flood Insurance Affordability Act (Affordability Act). The Affordability Act revised certain sections of Biggert-Waters, eliminated or delayed other sections and created new rules. In June 2015, the financial institution regulatory agencies released final rules implementing most of the provisions of both of the above laws. In January 2019 the financial institution regulatory agencies published final rules implementing the requirements for the mandatory purchase of private flood insurance.

While some of these provisions are now a few years old, financial institutions are still dealing with issues and uncertainties regarding flood insurance requirements, including the detached structure exemption, force placement requirements, and escrow provisions. In addition to these newer requirements, other general provisions of the flood insurance requirements still plaque many financial institutions, for example, how much flood insurance coverage is required and how do we resolve discrepancies between a flood zone determination and an insurance company. Now we are dealing with more uncertainty in the form of the requirements for the mandatory acceptance of private flood insurance.

Covered Topics

  • When flood insurance is required;
  • How to determine the accurate amount of required insurance the borrower must purchase;
  • What the purchase requirements are when multiple buildings are located on a property in a special flood hazard area;
  • The final requirements for the mandatory acceptance of private flood insurance;
  • The detached structure exemption and how to utilize it;
  • The requirement to escrow flood insurance premiums and the exemptions allowed from the escrow requirements;
  • The rules for force-placing flood insurance;
  • Whether increasing a loan balance due to force-placing flood insurance requires an escrow account to be established;
  • What steps should be taken if a flood hazard determination does not mirror the special flood hazard area dictated by the insurance company; and
  • How a financial institution should monitor those loans designated to be in a special flood hazard area.

Who Should Attend?

The program is designed for compliance officers, operations personnel, mortgage loan officers, loan originators and others involved in obtaining and maintaining flood insurance on mortgage loans.

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.

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Related Topics

Instructor

Jack Holzknecht
Jack Holzknecht

Jack Holzknecht is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 45 years. In 40 years as a trainer over 150,000 bankers (and many examiners) have part... read more.

Course Title Credits Start Date Start Time Delivery Type Delivery Option Instructor / Location Price
Top 10 Most Frequent Flood Issues 0.25 Any Any Webinar Six Month On-Demand Recording Jack Holzknecht $295.00 Register Now
Top 10 Most Frequent Flood Issues 0.25 Any Any Webinar CD-ROM Video Recording Jack Holzknecht $345.00 Register Now
Delivery Options

LIVE WEBINAR:
INCLUDES 7 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. You can type and send your questions to the instructor. Many companies are now running their PC through an LCD projector allowing many employees to participate at the same time. And don’t worry if you miss the webinar, you can still view it for up to seven days after it takes place!

SIX MONTH ONDEMAND VIDEO:
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:
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.

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