Q: When a property has multiple buildings (i.e. three buildings), should the initial flood determination request be three separate requests, one for each building such as:
1) Building # 1, 52 Pumpkin Pie Rd.
2) Building # 2, 52 Pumpkin Pie Rd.
3) Building # 3, 52 Pumpkin Pie Rd.
just one request on the address: 52 Pumpkin Pie Rd.
and if the determination shows that the address is in a flood zone, should we then submit a request on each building to determine which building or part of a building (s) is actually in the flood zone for insurance coverage purposes?
A: Refer to answer 39.
[Answer to #39 is:
The lender should verify with the third party which properties are included for the address. It is likely that you may need to order a SFHDF for each building. Per the SFHDF instructions: MULTIPLE BUILDINGS: If the loan collateral includes more than one building, a schedule for the additional buildings/mobile homes indicating the determination for each may be attached. Otherwise, a separate form must be completed for each building or mobile home. Any attachments should be noted in the comment section. A separate flood insurance policy is required for each building or mobile home.]
– This Q&A was included in the materials from the FDIC New York Region Regulatory Teleconference: “Flood Insurance – Flood Insurance Compliance and an Examiner’s Perspective” which took place on December 3, 2012. These materials may be found here: https://www.fdic.gov/news/conferences/NY/2012-12-03.html