Flood compliance is complicated! On May 11, 2022, the Agencies released revised and reorganized Flood Insurance Q&As, 144 of them to be exact! Much has happened in the past 11 years in flood compliance, and there have been some major developments to understand.  Not only was there the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014, now FEMA is rolling out Risk Rating 2.0. The revised FAQs address some areas that have changed since they were last updated in 2011, such as: 

• Escrow Requirements
• Detached Structure Exemptions
• Force-Placement
• Private Flood Insurance

Join this webinar to get the facts about this significant guidance.  You will come away better informed and prepared to manage your flood compliance program.  You may need to update bank policies and procedures to align with this guidance – some answers provide relief to banks!

Topics include:

• Understand the impact of the NEW FAQs that became effective when they were published on May 11, 2022
• The ability to quickly research and find the information you need in the FAQs
• A summary of what changed
• A listing of what was added
• All 144 new and updated Q&As
• Confidence on the detached structure exemption – when it is allowed, what it applies to and a better grasp of regulatory expectations for determining insured value
• An overview of Risk Rating 2.0

This webinar will also included highlights from the July 27 Interagency Flood Insurance Q&As webinar held by staff from the Board of Governors of the Federal Reserve System, Farm Credit Administration, FDIC, and OCC.