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The Bank has received notification from our flood vendor that one of our properties is no longer in a flood zone. The flood map changed on 5/23/23. The flood determination date that was emailed to us is 5/26/23. We have forced placed flood insurance on this loan. Do I cancel the forced place flood as of the map date 5/23/23 or the flood determination date 5/26/23?
You would cancel it as of the date of the flood change and ensure all payments are refunded from that date.
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