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<br />'<'froduction and Enhancement ojG.is,'Mapping Products, Ten.s ofthous.irids of NFIP
<br />/)ni!~,JJanels have b-,~en-ptoaucea::using manual cartographis;.te'chniques. A$'\he NFIP
<br />/:;>' mapping progr~m:continues to evolve, the COT\versiollofthe maps to digita\'<.JIS format is ~
<br />/i;/ a tOPllrjoJjt)l411d a challenge. Botl1 the production processes and the mapping, formats , Gr:"5'C'20~:::83
<br />/<:;>/ are bei~~-(crutinized caref~J~~..:ae-tem:ri~!;._Il1..os~efficient and accurat.e5~Y,o!~':~~~/-\ :,/ "'"
<br />, // conv:rtlll~~IP map$~~}(gltal format. TIiefutrn:eofiht7J?!"HSMJlii(:f-Q<3 pr9ducts are.. '
<br />/ / keys III thls~r9cess. // i ii'
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<br />\<\, . Five-YearjyJdft*.date Needs Assessment. FEMA isimpl~~enting the Five- Yeili~~!lP/< ' '
<br />\'" Upd<)JY:l5leeds As~s~ment program, which will assure tha~ ~very community is screened (F)\\
<br />, " a.t.l~f every five year~ to determine the urgency of its ne~d to have updated maps.'
<br />',>, /;i;;iFlndings will be inpuft? a national database and ranked t~jstablish study, restudy, and /
<br />"\", ;; / map maintenance prioriti~, FEMA is now completillg~ first cycle of screening and
<br />);'/ intends to screen roughly (eh.percent of the commllirifies in FY 97,
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<br />5.2 federal ~.a+J~nal Morf9Qg~ Association (Fannie Mae)
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<br />The OrgptJitatiot"\,, Fannie Mae is a~'opgressionally chartered, shareholder-owned
<br />company ary.d.';tfr{nation'sl~est source ofho~lTIortgage funds. Fannie Mae's mission is to
<br />provide fiplriicial products ah,d,services that incre~~ the availability and the affordability of
<br />housing fbr\low-, moderate-, i!n,"<\middle-income Am~,ricans. As a leader in the secondary
<br />market, FatiJi~ Mae purchases r~~,i4ential home loan~.fr?m local mortgage lending
<br />institutions~tl)e.primary market--"-thus replenishing its;slipply of mortgage funds available for
<br />lending. Fanni~~ae purchases for tt~'Qwn portfoli\).(lf1iNa~ in trust for investors more than one
<br />out of every five mitrtgages originatedliNhe Un.it~~aates.\>
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<br />Fannie Mae pu'N;hilSes mo.rtga~Joans from approved seH~r/servlCers. Service of the loan
<br />is provided in accordanc~<wmi'-:stanQards promulgated in Fannie M~e.:s selling and servicing
<br />guides. These guides detail Fannie Mae's requirements for determini4!\ the flood-zone status of
<br />a property at origination, obtaining and maintaining an acceptable flood\~urance policY,-Nld _
<br />monitoring the status of the property to ensure that flood risk is properl)! \\1entiflt':lf;l.liiiiughl5u.C: ." ,."
<br />the life of the mortgage. Fannie Mae also has statutoryubligati{)!fs.-:Wlth,'resjJi~9IrtOreqliiring
<br />flood insurance; therefore, its stanc!.ards-are-:sb:~d:-i1I'P@::fryjis::Objrgiitions-li$' defined in flood-
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<br />-;c::~c-:"::--::-:.:~:.-Mapplng Concerns. As an investor in home mortgages, Fannie Mae is con~'tI}ed about
<br />[---..- the quality of the mortgages. This concern includes ensuring that mortgage assets are'~r?perly
<br />I protected against hazards, including flooding. It is concerned, therefore, that flood mapsi~ovide
<br />an accurate means for easily ascertaining the flood insurance risk of a designated property\',
<br />Further, the mortgage loan process is becoming increasingly automated, The time required to',
<br />apply for, underwrite, and close a mortgage loan has shrunk in some cases from weeks to days:::.
<br />The mortgage industry must be able to rely on flood maps that are consistent with the faster,\' "
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