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Flood Insurance Compliance Review & Update |
| Note: This live webcast (audio & video) will be broadcast LIVE over the internet on Tuesday, March 9, 2010, starting 7:00 AM Mountain Time. You may access this event from anywhere with an established internet connection. |
| Duration: |
6 hours |
Click here for more information and/or to register online.
Program Overview
New Interagency Questions and Answers…In July 2009, federal regulators issued their first joint guidance on flood insurance regulations in more than a decade. "Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance" was published in the Federal Register on July 21, 2009 in response to the many inquiries that banks and lending institutions had made since its initial publication in 1997.
The federal regulators’ new question and answer document focuses on a myriad of technical compliance topics such as:
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Understanding complex condominium issues
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How to determine correct insurable values
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Resolving flood zone discrepancies
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FEMA’s grandfather rating rules
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Implementing proper force placement procedures
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And a host of other frequently questioned topics
In all, the new Q&A deals with more than 80 important questions that regulators found were posed most often by lenders around the country. New regulator insights and clarifications are found throughout the publication.
This day-long seminar will use the 2009 Interagency Questions and Answers Regarding Flood Insurance as well as FEMA’s Mandatory Purchase of Flood Insurance Guidelines booklet as the springboards to solving everyone’s most recurrent flood insurance compliance dilemmas.
Agenda
This full-day seminar includes a review of the latest compliance
information on:
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How the National Flood Insurance Program works
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FEMA’s Mandatory Purchase of Flood Insurance Guidelines booklet
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The “New” Interagency Questions and Answers Regarding Flood Insurance
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A lender’s responsibilities under the Act
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Flood insurance purchase requirements
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Basics of flood mapping and the impact of new flood maps
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How much flood insurance coverage to require
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‘Insurable value’ and its specific alternatives
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Complex condominium compliance and performance issues
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How to remedy flood zone discrepancies
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FEMA’s grandfather rating rules
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Proper force placement procedures
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Construction Loans
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Home equity loans, lines of credit &subordinate liens
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Written notification procedures
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Use and re-use of the Standard Flood Hazard Determination form
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Dispute resolution mechanisms, e.g. LOMA, LOMR, LODR
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Escrow requirements
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Proper evidence of flood insurance purchase
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And much more…
About Your Presenter – Rich Slevin
Rich Slevin is a senior territory training manager for the Federal Emergency Management Agency’s (FEMA) training contractor, H2O Partners. He is located in suburban Chicago and his training territory canvasses nine states: Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, Ohio, Tennessee and Wisconsin. Mr. Slevin is widely recognized as a flood insurance subject matter expert by the Federal Emergency Management Agency as well as key insurance, banking, lending and state government entities. State departments of insurance, industry trade organizations, and insurance carriers, leading financial institutions and state government agencies regularly look to him for his expertise on flood insurance.
Who Should Attend
The program is designed for loan officers, loan processors and others with the responsibility for assuring that flood insurance disclosures are provided and that an appropriate amount of flood insurance is purchased upfront and maintained throughout the life of the loan.
Webcast
A webcast is a live streaming video that can be accessed from your computer. This virtual delivery method allows multiple attendees to participate from one location for one fee.
What is a Live Webcast?
Just like a live seminar, you attend a webcast at a scheduled time, only you do it from a web page on your computer. Webcasts include video and audio of the speakers, slides, and seminar handout materials — all on your computer!
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