Regulatory Alerts2020-07-06 | 2020-14015Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance
The OCC, Board, FDIC, FCA, and NCUA propose to reorganize, revise, and expand the Interagency Questions and Answers Regarding Flood Insurance to assist lenders in meeting federal flood insurance law responsibilities. The proposed guidance addresses significant topics including the escrow of flood insurance premiums, the detached structure exemption, and force-placement procedures. The Agencies are soliciting public comments on all aspects of these amendments to increase public understanding of flood insurance regulations.
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