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Last modified
1/25/2010 6:48:49 PM
Creation date
10/5/2006 1:25:19 AM
Metadata
Fields
Template:
Floodplain Documents
County
Statewide
Basin
Statewide
Title
National Flood Insurance Program - Revised Through 9/12/1994
Date
1/1/1995
Prepared For
US
Prepared By
FEMA
Floodplain - Doc Type
Historic FEMA Regulatory Floodplain Information
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<br />(h) 10 FEE FOR DETERMINING LoCATION. --Notwithstanding <br />any other Federal or State law, any person who makes a <br />loan secured by improved real estate or a mobile home or <br />any servicer for such a loan may charge a reasonable fee <br />for the costs of determining whether the building or <br />mobile home securing the loan is located in an area <br />having special flood hazards, but only in accordance <br />with the following requirements: <br /> <br />(1) BORROWER FEE.--The borrower under such a <br />loan may be charged the fee, but only if the <br />determination-- <br /> <br />(A) is made pursuant to the making, <br />increasing, extending, or renewing of the <br />loan that is initiated by the borrower; <br /> <br />(B) is made pursuant to a revision or <br />updating under section 1360 (f) of the <br />floodplain areas and flood-risk zones or <br />publication of a notice or compendia under <br />subsection (h) or (i) of section 1360 that <br />affects the area in which the improved real <br />estate or mobile home securing the loan is <br />located or that, in the determination of the <br />Director, may reasonably be considered to <br />require a determination under this <br />subsection; or <br /> <br />(e) results in the purchase of flood <br />insurance coverage pursuant to the <br />requirement under subsection (e) (2) . <br /> <br />(2) PuRCHASER OR TRANSFEREE FEE. --The purchaser <br />or transferee of such a loan may be charged the <br />fee in the case of sale or transfer of the loan. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />10Sec. 526, National Flood Insurance Reform Act of <br />Public 103-325, approved September 23, 1994, <br />subsection (h). <br /> <br />1994, <br />added <br /> <br />14 <br />
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