Login to View Full Member Content:

Flood Insurance Compliance Update: Requirements, Issues & FAQs

Date: March 19, 2013

Time: 3:00pm - 4:30pm

Location: Webinar

[REGISTER NOW]

The regulatory agencies are monitoring flood compliance more than ever before and have been quick to issue penalties. This session will review flood basics and the most-recent, frequently-asked questions (FAQs). This must-attend session will provide tools and sample procedures to help ensure your next flood exam will be seamless.

In addition, the Biggert-Waters Insurance Reform Act was finalized and has been signed into law. Although no implementation date has been published, this webinar will address the required changes so you will be prepared.

Continuing Education: Attendance verification for CE credits upon request

HIGHLIGHTS
  • What loans are covered by this regulation?
  • Flood determinations:  complete, accurate, and timely
  • Notice for flood properties – timing is imperative
  • How much flood insurance is enough?  A worksheet to test insurance coverage.
  • The most-recent FAQs focus on determining the appropriate amount of insurance
  • Force placing insurance:  What are your credit union’s procedures?
  • New requirements of the Biggert-Waters Insurance Reform Act
  • TAKE-AWAY TOOLKIT
    • Sample procedures for flood compliance and the new requirements of Biggert-Waters
    • Monitoring and tracking tools
    • Tools for reviewing your flood compliance files
    • Worksheet to test whether you have enough insurance coverage
WHO SHOULD ATTEND?

This informative session will benefit lenders, loan processors, compliance officers, and auditors.