Diving Deep into Force-Placed Flood Insurance
On-Demand Webinar:
StreamedFeb 29, 2024Duration60 minutes
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
The Flood Disaster Protection Act requires time-sensitive actions by the lender or its designated servicer during force placement.
In
addition, there are specific documentation requirements for borrower
notification. Learn how to successfully handle all aspects of force-placed
flood insurance coverage.
AFTER
THIS WEBINAR YOU’LL BE ABLE TO:
- Explain force-placement timing requirements
- Properly prepare a notice of underinsured or uninsured flood insurance coverage
- Accurately calculate the amount of force-placed flood insurance
- Identify documentation necessary to demonstrate flood insurance coverage in connection with a lender’s refund of force-placed premiums
- Explain the action steps required upon a SFHA change due to a FEMA flood zone map change
- Recognize examiner-identified force-placement exceptions
WEBINAR DETAILS
Weaknesses continue to be identified in the force
placement of flood insurance. This webinar will go in-depth through the
required actions when a designated loan is identified as being underinsured or
even uninsured for required flood protection. Even after the activation of a
force-placed policy, numerous steps must be followed to track and appropriately
cancel a policy. You’ll learn the necessary measures from start to finish regarding
force-placement requirements.
WHO SHOULD ATTEND?
This informative session
is designed for lenders, loan processors, lending staff, compliance officers,
risk officers, and trainers.
TAKE-AWAY TOOLKIT
- Sample force-placed flood insurance procedures
- Sample notice of insufficient flood insurance coverage
- Force-placement transactional review checklist
- SFHA tracking log
- Employee training log
- Interactive quiz
- PDF of slides and speaker’s contact info for follow-up questions
- Attendance certificate provided to self-report CE credits
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
TESTIMONIALS
"The presenter was very knowledgeable and delivered the content in an easy to understand manner. I learned a lot from attending."
- Robyn, Magnifi Financial Credit Union
"This was a wonderful refresher on force placed flood insurance. With all of the changes in the past few years concerning private flood and the changes with NFIP, it was nice to have a deep dive into this specific topic."
- Denise, Liberty Bay Credit Union
Presented By
Brode Consulting Services, Inc.
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