Flood Disaster Protection Act: Avoiding Violations
On-Demand Webinar
StreamedMar 27, 2024Duration90 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
Floods are a challenge for homeowners.
Similarly, flood insurance is a
challenge for financial institutions – if the number of regulatory violations is
any indication. This timely program will examine the nooks and crannies of the
FDPA, demonstrate how to calculate coverage with a take-away tool, explain the
types of flood policies borrowers can buy, and more. Now’s the time to ensure
there are no leaks in your institution’s flood compliance management program!
AFTER THIS
WEBINAR YOU’LL BE ABLE TO:
- Identify when FDPA requirements are triggered
- Recognize examiner-identified FDPA exceptions
- Determine when the detached exemption is available
- Explain the differences between an NFIP and a private flood policy
- Calculate the minimum amount of required flood insurance
- Analyze a private flood policy
- Understand critical timing requirements for force placing flood insurance
- Use research resources, including the interagency flood FAQs
WEBINAR DETAILS
Flood insurance
compliance continues to be a challenge for institutions as evidenced by the
number of regulatory violations. This program will explain the requirements of
the Flood Disaster Protection Act (FDPA), including identifying when the
regulation applies, fulfilling notice requirements, and proper calculation of
the minimum amount of flood insurance. In addition, it will highlight
regulatory requirements cited as weaknesses that resulted in assessment of
civil money penalties.
On the surface, the
requirements of the FDPA appear pretty basic, but challenges arise when the
collateral involves different types of structures and multiple liens.
Therefore, it is critical to understand the appropriate numeric values to calculate coverage, the types of flood policies
borrowers can obtain, and when the detached-structure exemption applies. This
webinar will review these topics and more! In addition, you’ll gain helpful
resources for researching questions.
WHO SHOULD ATTEND?
This informative session
is designed for lenders, loan processors, lending staff, compliance officers,
risk officers, and trainers.
TAKE-AWAY TOOLKIT
- Explanation of flood zones
- Tool to calculate the required amount of flood insurance
- Interagency Questions and Answers Regarding Flood Insurance separated by section for easy reference
- Special Flood Hazard Area loan worksheet
- 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
"The speaker was very knowledgeable on the topic, gave good examples, and very engaging. Very impressed with the presentation and the additional handouts that were provided. The webinar was an hour and half and flew by as there were no lulls in the presentation and questions were addressed at the end. Would definitely recommend this class to anyone monitoring flood insurance."
- Kathleen, Mercantile Bank of Michigan
"The speaker was very knowledgeable and explained things very clearly. It is not an easy topic to discuss but she was right on point. The materials are also very helpful."
-Melanie, Plains State Bank
Presented By
Brode Consulting Services, Inc.
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