Wednesday, January 20, 2021
12:00 – 1:00 pm (Eastern Time)
11:00 – 12:00 pm (Central Time)
10:00 – 11:00 am (Mountain Time)
9:00 – 10:00 am (Pacific Time)
This can’t-miss session will address flood insurance regulation 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, escrow requirements, and lessons learned from recent enforcement actions.
The compliance and bank webinar concludes with a comprehensive review of flood insurance requirements and expert guidance for banks covering a range of flood compliance topics.
This timely compliance webinar covers:
- FDIC Final Rule requirements and 2020 examination updates
- Fundamentals of the National Flood Insurance Program
- Final flood rule changes
- 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
- Answers to the top 5 FAQs about NFIP compliance
- Tips for avoiding violations based on 2020 agency enforcement actions
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