Flood Insurance Requirements for Lenders

Flood Insurance Requirements for Lenders

On the heels of a recent HUD audit on flood insurance, regulators put lenders on notice. They found 31,500 federally backed loans in flood zones without flood insurance, exposing lenders to more than $4.5 billion in risk. This news is a wake-up call to lenders to take...
Four Tips for Lender Flood Compliance 

Four Tips for Lender Flood Compliance 

As a lender, you are under increasing scrutiny by regulators to comply with federal flood insurance requirements. To avoid the risk of non-compliant loans and financial penalties, you need to understand four main areas before closing a loan in a FEMA-designated flood...