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<br />satisfactory to the Director. <br />publish and periodically revise <br />which this subsection applies. <br /> <br />(2) SMALL LOANS.5--Notwithstanding any <br />provision of this section, subsections (a) and (b) <br />not apply to any loan having-- <br /> <br />The Director shall <br />the list of States to <br /> <br />other <br />shall <br /> <br />(A) an original outstanding principal <br />balance of $5,000 or less; and <br /> <br />(B) a repayment term of 1 year or less. <br /> <br /> <br />(d) 6 ESCROW OF FLOOD INSURANCE PAYMENTS. - - <br /> <br />(1) REGuLATED LENDING INSTITUTIONs--Each Federal <br />entity for lending regulation (after consultation and <br />coordination with the Financial Institutions Examination <br />Council) shall by regulation require that, if a <br />regulated lending institution requires the escrowing of <br />taxes, insurance premiums, fees, or any other charges <br />for a loan secured by residential improved real estate <br />or a mobile home, then all premiums and fees for flood <br />insurance under the National Flood Insurance Act of 1968 <br />for the real estate or mobile home shall be paid to the <br />regulated lending institution or other servicer for the <br />loan in a manner sufficient to make payments as due for <br />the duration of the loan. Upon receipt of the premiums, <br />the regulated lending institution or servicer of the <br />loan shall deposit the premiums in an escrow account on <br />behalf of the borrower. Upon receipt of a notice from <br />the Director or the provider of the insurance that <br />insurance premiums are due, the regulated lending <br />institution or servicer shall pay from the escrow <br />account to the provider of the insurance the amount of <br />insurance premiums owed. <br /> <br />5Sec. 522, National Flood Insurance Reform Act of <br />Public Law 103-325, approved September 23, <br />provided an exemption for small loans. <br /> <br />6Sec. 523, National Flood Insurance Reform Act of <br />Public Law 103-325, approved September 23, 1994, <br />subsection (d). <br /> <br />1994, <br />1994, <br /> <br />1994, <br />added <br /> <br />8 <br />