Flood Insurance Compliance 2024

Regulatory compliance expert Michael Christians will lead this informative session on the latest updates to flood insurance purchase requirements and how to ensure compliance.

What You'll Learn

  • Understand the intricacies of flood insurance
  • Use of the Standard Flood Hazard Determination Form
  • Determining the minimum amount of flood insurance coverage
  • Providing the Notice of Special Flood Hazards to the borrower
  • Requirement to escrow flood insurance premiums
  • Force-placement of flood insurance
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Wednesday, July 31, 2024; 2:00 PM Eastern

Scheduled for 60 minutes including question and answer period.

INFORMATION
Training Overview

Loans in Areas Having Special Flood Hazards. Strengthening Compliance with Federal Flood Insurance Requirements

In 2024, lending institutions must notify borrowers and servicers of special flood hazards for loans in FEMA-identified areas. Before originating a loan secured by a property located in a special flood hazard area, your financial institution must meet the mandatory flood insurance purchase requirements outlined in federal law. This often presents a challenge, adding complexity and potential delays to the loan approval process.


Gain comprehensive insights into the intricacies of flood insurance, including regulatory mandates, proper use of the Standard Flood Hazard Determination Form, calculating adequate coverage, notifying borrowers and servicers of special hazards, mandatory escrow requirements, and best practices for force-placing insurance.

  • Understand the intricacies of flood insurance
  • Use of the Standard Flood Hazard Determination Form
  • Determining the minimum amount of flood insurance coverage
  • Providing the Notice of Special Flood Hazards to the
    borrower
  • Requirement to escrow flood insurance premiums
  • Force-placement of flood insurance


We’ll also review the revised Interagency FAQs on flood insurance and cover several frequently asked questions.

Recommended Audience
Who Should Attend?
  • Mortgage loan originators
  • Loan processors
  • Servicing personnel
  • Other loan operations staff
  • Compliance professionals
  • Auditors
  • Compliance Officers
  • Audit Staff
What's included
Training includes
  • Certificate of Attendance
  • All resources and training materials
About

Expert Presenter

Michael R. Christians
  • Principal of Michael Christians Consulting, LLC
  • Assists financial institutions and organizations across the country with ensuring their compliance programs conform to federal laws and regulations
  • Provides counsel relative to current rules, assists with the strategic implementation of upcoming regulatory changes, and offers customized education and training services
  • More than two decades of experience in the financial services industry
  • JD from Drake University Law School
  • Member of the Iowa State Bar

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