If you are new to lending, you will learn (or maybe you already know) there are times when you must require a borrower to purchase flood insurance to get a loan. What you may not know is “why” you have to require flood insurance. Flood insurance is not about protecting the bank, it’s about protecting the federal government. In a sense, financial institutions have been deputized and tasked with making sure the rules are being followed.
Kevin explains more in the video.
Published
2025/04/23