Top 10 Most Frequent Flood Issues
01/30/2018, 10:00 AM to Noon
No location provided
Description:
Presented by Kelly M. Owsley and Jack Holzknecht
Tuesday, January 30th, 2018
10:00 am - 12:00 pm CT
Covered Topics
Upon completion of this program, participants understand:
- 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 proposed 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.