Ensuring mortgage loans are properly protected against the risk of flood is a critical component of every loan. Mortgage loan originators and servicers are required under the National Flood Insurance Reform Act to verify if the property is in a Special Flood Hazard Area (SFHA). This applies to all newly originated loans and throughout the life of the loan to ensure all properties located within a SFHA are insured.
Our Flood Determination Services help simplify the process of identifying properties that lie inside a flood hazard zone for both originators and servicing organizations.
Be sure you maintain compliance over the life of the loan and against constantly changing flood zones. Call IL Group today.