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A Provider of AIB Products Flood Disaster Protection Act |
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Course Description: Flood Disaster Protection Act provides an overview of the requirements for processing transactions covered by this Act. This course explains of the coverage requirements and exemptions, and the disclosures required in these transactions. Audience: Frontline employees involved in the lending process, including mortgage, consumer and small business lenders, loan processors and loan servicing. Learning Objectives: After successfully completing this program, you will be able to: • Explain the background and purpose of the Flood Disaster Protection Act • Describe the circumstances when you must perform a flood determination • Identify the types of properties that require flood determination • Explain the types of loans subject to the mandatory requirement to purchase flood insurance • Describe the minimum flood insurance purchase amounts • Describe the process for notifying borrowers who have properties in a special flood hazard areas • Describe what constitutes sufficient proof of flood insurance and when it must be provided to the bank • Explain the bank's responsibilities for ensuring that an appropriate amount of flood insurance is maintained for the life of the loan Course Credits: AIB: 0: ICB: 0.5 CLBB Prerequisites: None Required Software: None Optional Software: Adobe Acrobat Reader and RealPlayer Cost: Members $35 • NonMembers $55  Forms Page ... Registration ... Requests ... WithdrawalPBA Contact: Jackie Catalano • (717) 255-6939 • jCatalano@paBanker.com |
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