On November 10, 2021, the Board of Governors of the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and the state financial regulators (collectively, agencies) issued a joint statement to communicate to mortgage servicers the agencies’ supervisory and enforcement approach as risks associated with the Coronavirus Disease (COVID-19) pandemic continue to change. On April 3, 2020, the agencies […]
Month: November 2021
FLOOD INSURANCE ISSUES
We have received several recent questions regarding flood insurance. Declaration Page – Are we still required to compare the risk rating on our flood determination to the risk rating on the flood insurance policy? FEMA has revised the declaration page for flood insurance policies. Among the changes, the risk rating has been removed. It is no longer possible to compare the risk rating from the Standard Flood Hazard Determination Form to the declaration page of […]