Loan Modification or Refinance Flood Insurance Requirements

Course Number: ABA

Course Code: n/a

Understand what requirements and disclosures are necessary when taking action on an existing designated loan involving flood insurance.

What You’ll Learn

This training will specifically address:

• Creditor’s responsibilities with flood insurance
• When to check flood status: triggering events
• Calculating flood insurance coverage amount
• Escrow requirements, when to force place, and notable exemptions

Audience: • Chief Compliance Officers (CCOs); Compliance Officers, Managers, Specialists, Analysts and Coordinators, including Compliance owners within the bank’s first line with responsibilities for Consumer Compliance and/or Regulatory Oversight. Internal Auditors, General Counsel and Legal, Consultants specializing in Bank Compliance. Federal and State Bank Examiners. Bankers who have attended ABA’s Compliance Schools or taken the Online Training for Compliance Professionals.

Prerequisites: n/a

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