Diving Deep into Force-Placed Flood Insurance
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
MEET THE PRESENTER – Molly Stull, Brode Consulting Services, Inc.
Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since. She has experienced the growth of a hometown bank, branch mergers, charter changes, name changes, etc. Stull has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners. Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process they will be more compelled to follow the procedures. Stull holds a bachelor’s from the University of Akron and an MBA from Ashland University.
REGISTRATION OPTIONS
- $279- Live Webinar Access
- $279 – OnDemand Access + Digital Download
- $379 – Both Live & On-Demand Access + Digital Download
