Monday, August 19, 2019
2:00 – 3:00 pm (Eastern Time)
1:00 – 2:00 pm (Central Time)
12:00 – 1:00 pm (Mountain Time)
11:00 – 12:00 pm (Pacific Time)
Regulations around Flood Insurance for financial institutions have been extremely fluid in recent years (pun intended) and with the final flood rule now in effect, financial institutions are expected to comply with the numerous technical requirements surrounding private flood insurance. The Private Flood Insurance rules initially defined in the 2012 Biggert-Waters Flood Insurance Reform Act are now scheduled for July 1, 2019.
This can’t-miss credit compliance training will address flood insurance regulations and compliance requirements designed for both new and experienced personnel. We start with an overview of the basic concepts, laws, and FAQs, including disclosure requirements, mapping changes and escrow requirements.
This credit training concludes with a comprehensive review of flood insurance requirements and expert guidance for financial institutions covering a range of flood compliance topics.
Attendees to this banking webinar will learn:
- FDIC Final Rule changes and requirements
- Fundamentals of the National Flood Insurance Program
- Who must purchase flood insurance
- Notice and timing requirements
- Which loans are covered
- Requirements for mandatory and discretionary acceptance of private flood insurance
- Guidance for determining how much flood insurance is enough?
- Force-placed insurance rules
- Mandatory escrow requirements
- A review of flood zones and flood risk
Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance. Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.
1.0 CPE Credits