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FLOOD ZONE DETERMINATION & CERTIFICATION SERVICES

Definition of FLOOD

A general and temporary condition of partial or complete inundation of normally dry land areas from overflow of inland or tidal waters or from the unusual and rapid accumulation or runoff of surface waters from any source. If the property meets the FEMA (Federal Emergency Management Agency) norms, it can be removed from special flood hazard areas. In purchases where there is a lender involved, the lender has a resource to accomplish this task. The fee is charged to the buyer in the 800 series items on the HUD-1 Settlement Statement. The lender is, of course, protecting their loan asset by verification of the risk of damage or loss by flooding. If the property is at risk, it doesn't necessarily preclude a loan, but flood insurance could be required.
Flood Certification Overview

We complete Flood Zone Determination Request by providing the necessary flood information of the address. This is done by determining the location of the property on the FEMA. FEMA has defined according to different levels of flood risk. These zones are described on a community's Flood Insurance Rate Map (FIRM) or Flood Hazard Boundary Map. Each zone reflects the severity of Flood in their respective areas or zones. A flood cert or flood certification in real estate is a document that states the flood zone status of real property. FEMA (Federal Emergency Management Agency) flood maps are examined using the address or geographic coordinates of the property. Using the location on the map, the flood certification provider certifies what, if any, flood zone in which the property is located. The purchase of flood insurance is mandatory for all Federal or federally-backed financial assistance for the acquisition and/or construction of buildings in high-risk flood areas (Special Flood Hazard Areas or SFHAs).

Life Of Loan (LOL) Flood Zone

LOLs are processed to ensure continued compliance throughout the life of a loan. A LOL Update is only processed for those who have ordered Life of Loan Servicing. Searching history for orders with LOL Servicing, and re-checking the addresses previously submitted in the affected community is done to ensure that the flood insurance requirements have not changed when a New or revised Flood insurance Rate Map is processed. FEMA releases the new maps, called the effective date, we run a query on the entire LOL to determine which previously submitted addresses located requires a LOL Update. These addresses are compiled and remapped to update

the new map parcel number and new parcel date, and to make sure that the community name, participation status, and flood zone information is the accurate. If at any time FEMA updates their FIRM maps, and the flood hazard of the property changes, you will be notified within 60 days of the FIRM map update (Includes a Basic Determination).