Diving Deep into Force-Placed Flood Insurance
On-Demand Webinar
StreamedFeb 29, 2024Duration60 minutes
- Unlimited & shareable access starting two business days after live stream
- Available on desktop, mobile & tablet devices 24/7
- Take-away toolkit
- Ability to download webinar video
- Presenter's contact info for questions
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
NOTE: All materials are subject to copyright. Transmission, retransmission,
or republishing of any webinar to other institutions or those not employed by
your institution is prohibited. Print materials may be copied for eligible
participants only.
TESTIMONIALS
"Wonderful resource! Covered essential basics of force placed insurance."
- Elizabeth, United Community Bank
"Lender placed insurance is such a hot button topic any refresher or new information is always welcomed. We all very much enjoyed the webinar."
- Linda, United Community Bank
"Overall everything was good. Molly was a great presenter; she moved at a good pace, made understanding easy, and provided great take away materials."
- Kelly, Susquehanna Community Bank
Presented By
Brode Consulting Services, Inc.
© 2024 FINANCIAL EDUCATION & DEVELOPMENT, INC
