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Flood Zone Determinations - Banks |
| Program Summary |
| Our program includes flood zone information in various formats with varying levels of detail and transfer of liability. This allows you to choose the type of flood zone determination product that best meets your risk analysis needs. |
| Complete Compliance Solution |
| Flood Zone Determinations - Agents & Brokers |
| Force Placed Flood & Hazard Insurance |
| NFIP Flood Insurance |
| Flood Compliance Packet |
 | | Floodwatch's basic zone determination service provides the required Federal flood documentation with a certificate that will specify the flood hazard status of a particular property based upon an examination of the current FEMA Flood Insurance Rate Maps. In addition, you will receive a Notice to Borrower/Insured with an explanation of the flood insurance requirements based on the location of the subject property measured against the FEMA flood map.
The Standard Flood Hazard Determination certificates include the following data elements: |
| | | Flood Zone Determination to the Structure |
| | | Map Community Number |
| | | Map Panel and Revision |
| | | Jurisdictional Community Number |
| | | Community Status (Participating or Non-Participating) |
| | | Estimated Amount of Flood Insurance Required |
| | | Government Program Restrictions Indicator |
| | | HMDA info. Printed on certificate upon request |
| | Most orders are completed with same day service and a maximum of 24 hours on an ongoing basis for a majority of orders. All determinations are guaranteed by $10 million errors and omissions policy. |
| Life-of-Loan Services |
| | | All it takes is a single change in FEMA/NFIP flood maps or Community Status to cause your institution to fall out of compliance with investor or regulatory requirements. |
| | | Floodwatch's life-of-loan services provide the required tracking for changes in FEMA/NFIP flood maps and Community Status designations. Floodwatch's life-of-loan services ensure the accuracy of your data related to: First mortgage loans, consumer and equity loans, determinations from other vendors, existing and/or acquired portfolios. |
| | | Full life-of-loan service provides comprehensive monitoring of first mortgage loans from origination forward (Flood Compliance Packet with Ongoing Monitoring). The service provides full tracking for FEMA map or Community Status changes, provides reports, and reprocessing if needed to provide an updated zone determination. Notification will be made on a monthly basis of properties that have been affected. We will reprocess the affected properties and provide new flood zone certifications for subject locations that have had a change in flood zone. Reprocessed certifications are provided at no additional cost. The coverage is fully transferable should you sell or transfer servicing. |
| | | Flexible life-of-loan service offers a low-cost alternative for consumer finance, second mortgage and equity loans. This service provides the same to-the-structure flood zone determinations and loan tracking, but reprocessing charges are incurred only when FEMA changes require new determinations. |
| | | Foreign Flood certifications provide life-of-loan service for wholesale loans submitted by clients from other flood vendors. We'll analyze the loans against our extensive databases, provide new certifications, where warranted and track all loans going forward for future FEMA/NFIP changes. |
| | | Portfolio review service provides an automated review of your entire loan portfolio, using our extensive flood databases and Geographic Information Systems technology. Based on the review, we'll develop customized solutions to bring your entire portfolio into compliance. If you're like most lenders, you have a variety of channels through which loans are originated brokers, correspondents, retail, and more, all of which require specialized solutions. |
| HMDA Services |
| Our HMDA reporting delivers pinpoint accuracy for 100% of your valid addresses. |
| Floodwatch can provide complete HMDA geographic elements in HUD-required format, which include codes for state, county, Metropolitan Statistical Area, census tract, and/or Block Numbering Area. These elements can be included with your flood zone determinations or delivered through processing programs scheduled to meet your individual needs. |
| We can also derive accurate HMDA geographic elements through periodic batch-processing of loan applications or depository files. Our unique, two-step process automates the vast majority of your batch with the remainder processed by our expert map technicians. |
| For additional information please contact us |
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The above information provides only a general description of the coverage afforded in the policies offered and should not be considered as altering the insuring agreements, terms, conditions, exclusions and endorsements of the policy itself. Please read the provisions contained in the actual policies and discuss them with your insurance professional. |
