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