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, including loan officers, supervisors, auditors, closing agents, compliance officers, trainers, and others working in these types of positions.

WHAT YOU WILL LEARN 

• What exactly do the flood insurance rules cover? “Covered loan” vs. “Designated loan”

• What is an insurable 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 (hint: you don’t have to)

• Insurable value: What is it and how is it calculated? Is it 100% RCV? (hint: not necessarily)

• Differences in the types of structures and impacts on coverage amounts

• Coverage Amounts: “Normal” situations, condo coverage (including the RCBAP), multi-structure, and construction situations

• What you have to do vs. best practices (i.e. what you can do)

• “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 you must maintain

• What do you have to monitor?

• The types of policies and their limitations, including NFIP and private policies

• Private flood policies: Criteria for acceptance

• Detached structure guidance and insuring multiple structures

• Force-placing insurance: When, why, and how

• Insurance premiums and potential future Congressional action

• Continuing regulatory expectations