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Consumer Loan Flood Insurance Forms Line-by-Line

Mar 18 2:00 PM - Mar 18, 2020 3:30 PM
Mar 18, 2020 2:00 PM - 3:30 PM

Do you have a leaky flood compliance program? Are civil money penalties looming? You can protect your financial institution by understanding and complying with the Flood Disaster Protection Act requirements.

Learning Objectives

  • Understand critical elements in the flood determination process
  • Dissect each required flood insurance form line-by-line
  • Use weaknesses identified in recent CMPs to strengthen your flood compliance program
  • Calculate the minimum amount of flood insurance required
  • Explain the differences between an NFIP and a private policy
    • What’s required when reviewing a private policy
  • Watch for potential flood issues with third-party service providers
  • Implement monitoring and tracking tools to fulfill compliance responsibilities

How would you describe your consumer loan flood insurance compliance program? Is it robust enough to weather a storm? Or is someone metaphorically holding their finger in the dike? Now is the time to ensure staff knows the policy ins and outs and the forms line-by-line.

The components of an effective flood compliance management program include timely ordering of the determination; action steps when collateral is in a special flood hazard area; fulfilling notice requirements; and evaluating flood policies. But it doesn’t stop there! This webinar will address the elements of a monitoring program after the loan has originated; what to do when a policy must be force-placed; and the recent requirement to accept private flood policies. Come explore each step in developing a water-tight flood compliance program!

Agenda

Speakers

Molly Stull, Brode Consulting Services, Inc.

Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since. She has experienced the growth of a hometown bank, acquisitions of branches, mergers, charter changes, name changes, etc. Molly has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners. Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process they will be more compelled to follow the procedures. Molly holds a Bachelor’s from the University of Akron and an MBA from Ashland University.

Location

Fees

$259.00

Live and recorded webinar, handouts, quiz with answer key and training log are included.

Additional Info

Event Type

Webinar

Topics Covered

  • Live Webinars
  • Compliance
  • Lending & Collections