Flood Insurance I (+ Manual)
$395.00
Understanding the flood insurance requirements is essential for financial institutions from both a compliance and safety and soundness perspective. The Flood Disaster Protection Act of 1973, as well as others, imposes requirements and restrictions on regulated lending institutions, including determination, notice, and minimum flood insurance coverage. Join this in-depth seminar as we dive into the mandatory requirements with which an institution must comply.
Description
Flood Insurance I is an in-depth, four-hour review of the federal agencies’ regulations and Interagency Questions and Answers Regarding Flood Insurance, as well as certain references to the NFIP Flood Insurance Manual.
During the Flood Insurance I seminar, we will discuss the following topics:
- Coverage/Applicability
- Definitions
- Determination and notice
- Flood insurance requirements
- Timing
- Amount
- Private vs NFIP
- Exemptions
- Particular Issues
- Construction
- Type of structure – residential; commercial; residential condominium
- Lines of credit, equity, and subordinate loans
- Escrow
- Servicing, including force-placement
- Penalties
Duration: Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 4 Hours
Level: Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â The seminar is at a basic/intermediate level.
Prerequisites:Â Â Â Â Â Â Â Â Â Basic understanding of lending.
Audience:Â Â Â Â Â Â Â Â Â Â Â This program is intended for:
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- Financial institution compliance, credit, and risk executives and officers, as well as any member of the institution where knowledge or understanding of Flood Insurance is important or helpful, including underwriters, loan officers and loan processors.
- Examiners and third-party consultants, auditors, and related companies.
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Delivery Method: Â Â Â Â Â Â Â Â Â Â Â Â Â On-Demand/Virtual
Materials:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Manual and PowerPoint presentation
