Flood disaster protection act training manual

This statement provides guidance about the effective dates of certain provisiona of the Biggert-Waters Flood Insurance Reform Act, the impact of the law on the Agencies' proposed Interagency Questions and Answers, and the effect of the law on the Flood Disaster Protection Act of 1973: Consumer Leasing Act — Regulation M: Regulation M The Federal government enacted the National Flood Insurance Act of 1968 (NFIA) and the Flood Disaster Protection Act of 1973 (FDPA) because of the increased risk associated with loans secured by property in flood zones. The FDPA states that a bank cannot make, increase, extend, or renew any designated loan unless the building or mobile home and any personal property securing the loan is By Kathryn Morris, CRCM. T he enforcing regulation behind the Flood Disaster Protection Act doesn't take long to read from start to finish. Perhaps 12 minutes at a moderate pace. Newer compliance officers may mistake the simplicity of the regulation for minimal risk and calm waters, while seasoned compliance officers know that it only takes minutes for a thunderstorm to gather and rain down Flood Disaster Protection Act of 1973 and subsequent statutory revisions made it the lender's responsibility to determine which properties are in areas most prone to flooding and, further, to become the enforcer for the purchase and maintenance of flood insurance protection. Glossary term National Flood Insurance Program (NFIP) Under the provisions of the Flood Disaster Protection Act of 1973, individuals, businesses, and others buying, building, or improving property located in identified areas of special flood hazards within participating communities are required to purchase flood insurance as a prerequisite for receiving any type of direct or indirect federal financial assistance (e.g., any loan, grant, guaranty The Flood Disaster Protection Act was enacted in 1973 by Congress in order to protect homes which are most vulnerable. Background The National Flood Insurance Program (NFIP) was created by the Congress of the United States in 1968 through the National Flood Insurance Act of 1968. Flood Disaster Protection Act training sample. Tailored for our CU, so will need to modify to fit your needs. National Flood Insurance Act of 1968 Through the National Flood Insurance Act of 1968 (42 U.S.C. §4001), Congress authorized the NFIP, which provided an opportunity for property owners to purchase flood insurance protection made available by the Federal Government for buildings and their contents. The NFIP combines the concepts of November 2018 2 FLOOD DISASTER PROTECTION ACT OVERVIEW Franklin American Mortgage Company (FAMC) purchases loans that are in compliance with the requirement of the National Flood Insurance Act and subsequent amending laws and regulations. Flood Disaster: Temporary Exceptions to FIRREA Appraisal Requirements in Areas Affected by Severe Storms and Flooding in Florida, Georgia, Puerto Rico, Texas, and the U.S