Flood Insurance Revisions: Completing the Journey
Flood Insurance rule changes are nearly complete with the next round on the horizon.
This webinar explains the new laws and final regulations. Participants will receive a detailed manual that serves as a handbook long after the program is completed.
Congress passed the Biggert-Waters Flood Insurance Reform Act (Biggert-Waters) in 2012 and the Homeowner Flood Insurance Affordability Act (Affordability Act) in 2014. The Affordability Act revises certain sections of Biggert-Waters, eliminates or delays other sections and creates new rules. Since 2012 FEMA and the regulatory agencies have been working to implement the numerous changes. The final rules, published in late June were generally effective on October 1, 2015. The escrow requirement for flood insurance payments were effective January 1, 2016. The final actions required for escrows must be completed by June 30, 2016. Requirements for private flood insurance are still pending.
Participants will understand recent revisions including the:
- Biggert-Waters Flood Insurance Reform Act;
- Homeowner Flood Insurance Affordability Act;
- Interagency Final Rules including:
- Exemption for mandatory flood insurance for specific detached structures
- Changes to and exemptions from escrow requirements
- Revised flood hazard notice
- Revisions to force placement of flood insurance
Compliance officers, operations personnel, mortgage loan officers, loan originators and others involved in obtaining and maintaining flood insurance on mortgage loans.
Jack Holzknecht, CRCM, is the CEO of Compliance Resource, LLC. He has been delivering the word on lending compliance for 39 years. Jack’s career began as a federal bank examiner. He also headed the form and software division of a regional consulting company. He has developed and presented training programs to bankers in 43 states. He also developed and delivered training for the FDIC.
Kelly M. Owsley, CRCM, is Director of Training Services for Compliance Resource, LLC. Since 2000, she has worked for financial institutions ranging in asset size from $250 million to $3 billion. Kelly has worked in branch management, lending, product development and training. Recently, she served as VP of Compliance for a community bank where she was responsible for implementing and training all compliance related topics.
Institute of Certified Bankers: Visit http://www.icbmembers.org/login.aspx for instructions regarding self-reporting. Estimated credits: 2 hours/session
Member price: $275.00 | Non member price $550.00
Member price: $295.00 | Non member price $590.00
Online: Visit the CBA Webinar Catalog
Mail: Click here and mail completed form with check payable to ConferenceEdge to: (Mail at least 10 days prior to event)
1516 Xavier St., Ste 500, Denver, CO 80204
Phone: Call ConferenceEdge at (877) 988-7526 (credit card payments only)
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