Flood: Auditing for FDPA Compliance
A critical component of a compliance management system is effective auditing. This webinar will provide tools to review all types of flood policies, notices, timing requirements, and force-placement procedures along with resources for when a deeper dive is needed. Join us for this session to ensure your audit procedures are FDPA compliant.
AFTER THIS WEBINAR YOU’LL BE ABLE TO:
- Verify notices were provided in a timely manner
- Ensure the SFHDF was obtained on all relevant collateral
- Analyze a private flood policy
- Calculate the minimum amount of required flood insurance
- Determine if the detached-structure exemption was used appropriately
- Recognize examiner-identified force-placement exceptions
- Cross reference internal flood tracking with life of loan provider records
- Document compliance testing with the numerous checklists provided
WEBINAR DETAILS
Violations of the Flood Disaster Protection Act (FDPA) continue to draw civil money penalties. Therefore, it is critical to periodically review policies and procedures to ensure FDPA compliance. Whether you are specifically auditing for compliance with the Act or responsible for performing the identified flood-related tasks, this webinar will provide critical assistance.
FDPA compliance involves unique mathematical calculations for each loan and also very specific, timely communications. Join us to learn how to test for accurate calculations, including when the collateral involves different types of structures, multiple liens, and the option to use a coverage exemption. Not only will tools be provided to aid in documenting individual loan testing, but this program will also explain what should be reviewed for seasoned loans located in a special flood hazard area, including force-placement requirements.
WHO SHOULD ATTEND?
This informative session is designed for risk officers, compliance officers, auditors, loan review staff, and anyone responsible for compliance with the FDPA, including lenders and loan processing personnel.
