The Flood Disaster Protection Act requires banks to ensure borrowers, with property in a Standard Flood Hazard Area, have flood insurance prior to making, increasing, extending, or renewing a loan that is secured by that particular property. It is the bank’s responsibility to ensure the borrower has the appropriate amount of insurance according to the law. This online training course is intended for all residential mortgage lenders and support staff as well as compliance and operations personnel who monitor flood insurance requirements.
Course Learning Objectives
By taking this online Flood Disaster Protection Act: Sufficient Coverage course, the user will learn to:
- Ensure a borrower has the appropriate amount of flood insurance as required by the law
- Follow the rules for force placement of insurance if the bank receives notice of sufficient coverage from the borrower
This online Flood Disaster Protection Act: Sufficient Coverage course is made up of the following sections:
- Minimum Requirements
- Check Your Knowledge
- Force Placement
This Flood Disaster Protection Act: Sufficient Coverage online training course was designed for bank employees.
If you have any concerns as to whether this course is appropriate for you or your industry, please browse our full selection of online courses.