Flood Disaster Protection Act

$35.00

SKU: 10204 Category: Tag:

Description

Provides an overview of the requirements enacted by Congress and the mandated flood insurance requirements for all federally backed mortgages, and mortgages and loans obtained through federally insured and regulated financial institutions. Explains the coverage requirements and exemptions, and the disclosures required in these transactions.
What You’ll Learn
After completing this course, students will be able to:

  • Describe the circumstances and properties that require a flood determination
  • Explain the types of loans subject to the mandatory requirement to purchase flood insurance
  • Describe the minimum flood insurance purchase amounts
  • Describe the process for notifying borrowers who have properties in a special flood hazard area
  • Describe what constitutes sufficient proof of flood insurance and when it must be provided to the bank
  • Additional information

    Audience

    Frontline employees involved in the lending process, including mortgage, consumer and small business lenders, loan processors and loan servicing.

    Credits

    0.5 CLBB

    Member Price

    35.00

    Non-Member Price

    55.00

    Course Number

    ABA

    Location

    Online Self-Paced

    Vendor

    ABA

    Course Code

    ABA

    Prerequisites

    None

    Day

    Online

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