Laserfiche WebLink
<br />- 14 - <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />escrowing. Find out who performs each task. Get <br />copies of any written procedures, forms, <br />checklists, etc. <br /> <br />Numbers 4 and 5 - Ask to see a copy of the <br />eligibility list (Community Status Listing) and all <br />FEMA maps currently in use. Ask if the maps cover <br />the lender's entire trade area. <br /> <br />Number 6 - Determine the lenders' capability to use <br />the status list and to make floodplain <br />determinations. Discuss or work through an example <br />with them. <br /> <br />Number 7 - The lender is required to give at least <br />ten days' notice to the borrower in advance of <br />closing, of the need to purchase flood insurance. <br />Ask how much advance notice is given. <br /> <br />Number 8 - Loan applicants in non-participating <br />communities that have been designated as <br />flood-prone are required to be informed by the <br />lender that disaster assistance would not be <br />available should floods damage their property. <br />Find out whether lenders are aware of this <br />requirement and how they go about meeting it. <br />(CAPES are sometimes performed in non-participating <br />communities, such as when they request <br />reinstatement, Also, many lenders' trade areas <br />include non-particpating, as well as participating <br />communities.) <br /> <br />Number 9 - Determine whether the lender is aware of <br />the required amounts of coverage (see Attachment <br />G) . <br /> <br />Number 10 - The lender is required to maintain <br />documentation in the loan file showing that flood <br />insurance is in effect on floodplain structures, <br />that the appropriate notifications have been made <br />and that coverage has been renewed at the required <br />intervals. Ask to check a typical loan file to <br />ensure that the required documentation is present. <br /> <br />Number II - Ask your contacts to identify any <br />problems that they are having with our maps, map <br />orders, insurance agents, appraisers, etc, In <br />particular, find out whether they are experiencing <br />problems with local officials in addressing <br />flooding and flood insurance, e.g., can they <br />readily get assistance in making floodplain <br />determinations in borderline cases? <br />