Force-Placed Flood Guidance
This white paper analyzes the latest NFIP regulatory changes from the joint agencies as they relate to force-placed flood insurance.
Transferring collateral flood risk on commercial and residential properties requires an approach that combines NFIP flood zones, FEMA regulations, and policies that are cost effective for the consumer and borrower.
Tracking the flood risk involves different workflows than property hazard insurance due to the additional regulations from FEMA, in addition to Dodd Frank. For delivery systems to remain automated to the lender, systems must remain flexible to the changes in NFIP flood zones, pricing from lender placed insurance carriers, and notification workflows. Miniter's web based, Borrower-Centric Insurance Tracking will be there to continue to provide a compliant, automated approach to flood insurance tracking and delivery.