Flood Insurance Compliance Checklist

What it extracts

14 extraction fields

Loan and Property Overview

A one-look roll-up of the loan and collateral - borrower, property, transaction (MIRE) type, loan amount and balance, and property type - so a reviewer can orient and so later tests know the applicable NFIP limit and escrow rules.

Flood Zone Determination (SFHDF) Review

Reads the Standard Flood Hazard Determination Form (FEMA SFHDF) and captures the community name and number, flood zone, SFHA indicator, and NFIP participation status - the determination that must be obtained and retained for the life of the loan.

Property in Special Flood Hazard Area

A single flag - true when the flood zone is an A or V zone (a Special Flood Hazard Area), the condition that can trigger the mandatory purchase requirement; false for X/B/C and, with a caveat, for undetermined D zones.

Mandatory Purchase Requirement Applicability

Decides whether the FDPA mandatory purchase requirement attaches - SFHA plus a participating community, minus the statutory exemptions (small loan, state-owned self-insured, and the HFIAA detached-structure exemption).

Flood Compliance Checklist

The requirement-by-requirement checklist - one row per FDPA obligation (determination, notice, coverage, policy type, escrow, force placement) with its status, governing citation, and where the evidence appears in the file.

Flood Insurance Coverage Adequacy

Computes the required minimum coverage as the lesser of the outstanding principal balance, the NFIP maximum for the property type, and the building's insurable value, and tests whether the carried building coverage meets it - the core adequacy check under 12 CFR 22.3.

Flood Insurance Policy Verification

Verifies the policy or declarations page - policy type, number, coverage limits, deductible, and effective and expiration dates - and confirms the named insured and property address match the borrower and the secured property.

Private Flood Insurance Acceptance

For a private (non-NFIP) policy, determines whether the lender must accept it under mandatory acceptance - including the compliance-aid statement and the at-least-as-broad-as-NFIP test - or whether it is a discretionary or mutual-aid acceptance.

Condominium (RCBAP) Coverage

For a condominium unit, assesses whether the association's Residential Condominium Building Association Policy (RCBAP) meets the 80-percent-replacement-cost or maximum-available standard and whether any unit-owner policy closes the gap.

Borrower Notice Timing

Tests the Notice of Special Flood Hazards - provided a reasonable time before closing (measured against a common 10-day policy benchmark), acknowledged by the borrower, and containing the federal disaster-relief availability language.

Escrow of Flood Insurance Premiums

Determines whether flood premiums must be escrowed (residential improved real estate, MIRE event on or after 01/01/2016) after applying the small-lender and loan-type exceptions, and whether escrow was established.

Force Placement Status

Where coverage was absent or insufficient, checks the force-placement steps - borrower notified, the 45-day period observed before placement, coverage force-placed, and any overlap premium refunded.

Compliance Determination

Rolls the individual checks into a single verdict for the file - compliant, deficient for insufficient or no coverage, deficient for a missing determination or notice, deficient for escrow, or needs manual review - taking the most severe when several apply.

Exceptions and Remediation Notes

The exception log - one row per failed requirement with its cited regulation section, a severity, the finding with observed-versus-required values, and a concrete remediation step - the workpaper the reviewer and remediation team act on.

Where it fits

What it needs

What it produces

Review model

A flood-compliance analyst reviews each flagged exception, the coverage-adequacy math, and the cited regulation section before a loan file is cleared or routed for remediation.

Who uses it

Volume fit

Grounded in

• Flood Disaster Protection Act of 1973, as amended (42 USC 4012a) - mandatory purchase requirementverified as of 2026-07-22
• Interagency flood regulations - 12 CFR part 22 (OCC national banks), part 172 (federal savings associations), part 208 / 208.25 (Federal Reserve member banks), part 339 (FDIC), and part 614 subpart S (Farm Credit)verified as of 2026-07-22
• 12 CFR 22.3 / 339.3 / 208.25(c) - required amount of flood insuranceverified as of 2026-07-22
• 12 CFR 22.9 / 339.9 / 208.25(i) - Notice of Special Flood Hazardsverified as of 2026-07-22
• 12 CFR 22.5 / 339.5 / 208.25(e) - escrow of flood insurance premiums (HFIAA)verified as of 2026-07-22
• 12 CFR 22.7 / 339.7 / 208.25(g) - force placement of flood insurance (Biggert-Waters)verified as of 2026-07-22
• Private flood insurance final rule (interagency), effective July 1, 2019 - 12 CFR 22.3(a) and parallel partsverified as of 2026-07-22
• Homeowner Flood Insurance Affordability Act of 2014 (HFIAA) - detached-structure exemptionverified as of 2026-07-22
• Standard Flood Hazard Determination Form (SFHDF), FEMA Form FF-119-FY-22-128 (formerly FEMA Form 086-0-32)verified as of 2026-07-22

Changelog

• July 2026