Flood Insurance: Managing Risks Associated with Lapses in Flood Insurance Coverage

doi:s://www.fdic.gov

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Flood Insurance: Managing Risks Associated with Lapses in Flood Insurance Coverage

12/21/2007
Inactive Financial Institution Letters (FILs)

[PDF-1.19 MB]

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Details:

Publisher's site:

https://www.fdic.gov
Corporate Authors:

Federal Deposit Insurance Corporation (FDIC)
Description:

Flood insurance is required for the life of a loan that is secured by improved real estate located, or to be located, in a special flood hazard area of a community participating in the National Flood Insurance Program. Often, an insurance policy lapses because the borrower does not renew it. Therefore, it is important for institutions to have adequate internal controls to ensure that borrowers maintain appropriate levels of flood insurance coverage for the term of the loan.
Subject:

[+]

Consumer Protection
Dataset Download URL:

https://www.fdic.gov/news/financial-institution-letters/2007/fil07114.html
Format:

PDF
Release Date:

12/21/2007
Update Date:

11/26/2018
Withdrawn Date:

12/01/2018
Agencies Involved:

Federal Deposit Insurance Corporation (FDIC)
Fdic Employee Involved:

Mira Marshall;John Jackwood;
Law Involved:

Flood Disaster Protection Act of 1973
Related Regulation:

Part 339
Source:

FDIC Website
Memorandum To:

FDIC-Supervised Banks (Commercial and Savings)
FIL Number:

FIL-114-2007
Main Document Checksum:

[+]

urn:sha256:87ef4518c3bd0c4abad79a857ead0b634ca0b83e8b4457f5a97fbbdd247fe038
Download URL:

https://archive.fdic.gov/view/fdic/7436/fdic_7436_DS1.pdf
File Type:

No Additional Files

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Retired

Flood Insurance: Managing Risks Associated with Lapses in Flood Insurance Coverage

Details:

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