Speaking Engagement | March.13.2023 - March.17.2023Westin Arlington Gateway | Arlington, VA
Thursday, March 16, 2023
The FHA recently allowed lenders to accept private flood insurance policies on FHA-insured loans, ending a decades-old rule that FHA-insured loans on properties requiring flood insurance had to have policies extended through the federal government’s National Flood Insurance Program. That, along with an increased focus on climate change, is transforming the industry. Daniel Bellovin led a discussion on flood insurance compliance obligations at the National Association of Federal Credit Union’s Compliance School. The discussion covered the scope of the rule for designated loans, the escrow rule, and notice requirements.