FDIC FAQs – Are condominiums and mobile homes covered by the flood insurance regulations?

Compliance > Lending > Flood > FAQs
Q:  Are condominiums and mobile homes covered by the flood insurance regulations?
 
A:    Yes, usually.   FEMA issues a Residential Condominium Building Association Policy to condominium associations to cover the entire complex.   Section VI of the 2009 Interagency Questions and Answers addresses condominium questions.    Mobile homes, if permanently affixed to the foundation, are generally subject to the flood insurance requirements.
 
 
 
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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