The Agencies have delivered new flood insurance questions and answers. Now it’s action time! This session will provide the information needed to update your institution’s policies and procedures and train staff on this latest Agency guidance.
- Quickly research questions using the new numbering format
- Identify the new Q&As and specific revisions to existing Q&As
- Explain how to accept private flood insurance policies
- Implement force-placed flood insurance
- Determine when the detached structure exemption is applicable
- Develop training material to educate staff on the revised Q&As
The Agencies have issued final interagency questions and answers regarding flood insurance. This webinar will address the expanded and revised Q&As and their reorganization to assist in complying with the Flood Disaster Protection Act. It is important to update policies and procedures in accordance with this guidance, including the major amendments to escrow of flood insurance premiums, the detached structure exemption, force-placement procedures, and acceptance of flood insurance policies issued by private insurers. Understanding and implementing this guidance is critical to meeting the mandatory flood insurance requirements on designated consumer or commercial loans!
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, branch 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.