FDIC FAQs – The area has been remapped; now what?

Compliance > Lending > Flood > FAQs
Q:  The area has been remapped; now what?
 
A:    If the property is now located in a special flood hazard area, the bank must start force-placement procedures.  
 
If the property has been removed from the special flood hazard area, flood insurance is no longer required.
 
 
ADDITIONAL INFORMATION:
This Q&A was included in the FDIC’s Flood Insurance Videos, which were updated in 2016, which may be found here:   https://www.fdic.gov/news/news/financial/2016/fil16018.html
 

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