Flood: Relying on A Prior Flood Determination

Have you ever been confused about if or when you could rely on a previous flood determination form? It’s something we get asked a lot. While some financial institutions choose to get a new flood determination every time they touch a loan, that is fine and may help eliminate some compliance errors. However, there are certain instances where it is acceptable to rely on a previous one. These include:

  • The SFHDF is less than seven years old;
  • There have been no map changes; and,
  • The determination is on an actual Standard Flood Hazard Determination Form.

Keep in mind, this is what the regulation says and you may also need to check what your contract with your flood vendor says.

Jerod explains more in the video.

Flood Insurance Resources!



Jerod Moyer

Jerod is the leader of Banker’s Compliance Consulting’s training productions. He is a nationally recognized speaker. Whether it’s a conference, seminar, school, webinar or luncheon, it’s easy to stay engaged when he presents due to the amount of passion and energy he brings to each and every compliance topic. Jerod has spoken on behalf of the American Bankers’ Association, BankersOnline, many state banking associations, private compliance groups and financial institutions. He is a Certified Regulatory Compliance Manager (CRCM) and BankersOnline Guru. Jerod likes to spend his time (between reading regulations and producing compliance training!) relaxing at the lake with his wife and three children, following their activities or engaged in something sports-related!

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Flood: Relying on A Prior Flood Determination