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Best Practices for Flood Compliance

It is not easy understanding all of the rules relating to Flood Insurance. And even if you understand the basics, there is always a risk that one of the many trouble areas will jump up and get you at exam time. So becoming aware of the areas where others tend to fall into the swamp and implementing some common sense internal processing standards will go a long way toward keeping your flood insurance ship from being torpedoed at exam time.

What You Will Learn:

  • The problem areas where lenders frequently make mistakes. We will look at:
    • Value estimates (including possible fair lending "spill overs")
    • "Excessive coverage" issues
    • Contents insurance requirements
    • Pre-FIRM and Post-FIRM issues (including "grandfathering")
    • Deductibles
    • Resolving zone discrepancies
    • Zoning issues
    • Mixed use buildings
    • Multiple structures on the same property
    • Remapping issues
    • Loan participation/loan purchase issues
    • Notification to the director
    • And others
  • We will identify areas where policy standards should be set and documentation enhanced to help your files "speak for you" at exam time

We will also provide plenty of time for live questions and discussions relating to what has been discussed and to any other issues that might be on your minds with respect to fair lending expectations or loan underwriting concerns.

Target Audience:

Loan officers, loan origination support personnel, and loan operations personnel involved in processing loans secured by real estate or dwelling

Training on Demand's are limited to Premium Members. If you are interested in learning more about Premium Membership and its benefits, please contact us at Regulatory.Services@capco.com.

Premium Members get access to a number of compliance and risk management resources, including: • Live Webinars • On-Demand Training • Big Orange Book • TRID Calculator • Quick Reference Guides (QRGs) • Monthly Compliance Calendar • Advertising Tutorial

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