Program Description:

The Institute of Certified BankersTM(ICB) is dedicated to promoting the highest standards of performance and ethics within the financial services industry. This webinar has been approved for 2.5 CLBB & CRCM credits.

With flood insurance rules having been around as long as they have, you’d think compliance would be a snap. Not the case. There are still significant issues with flood insurance, and the regulators are still attempting to deal with them through even more questions and answers. The feeling is that financial institutions have been slipping in their flood compliance, increasing the risk to borrowers and institutions alike. A quick look around also shows that more than a few lenders out there are being fined for flood problems, and the amounts are not a laughing matter.

We’ll concentrate on some of the more vexing issues in flood compliance, such as construction situations and the ever-present condo coverage problem, by talking through sample scenarios and explaining best practices in keeping your portfolio covered.

This 2-Hour Webinar Covers:

• What exactly do the flood insurance rules cover?
• What is a covered structure or an insurable mobile home?
• Determinations: when you must do them, reliance upon previous determinations, and disputes over their results
• How much insurance you must require: “normal” situations, condo coverage, multi-structure, and construction situations
• “Knowledge is King” – when you have to know
• Documentation: the Standard Flood Hazard Determination Form, notice to customers, and proof of insurance
• What do you have to monitor?
• Force-placing insurance – why and how

Who Should Attend:

This interactive session will give an in-depth understanding of these rules and is imperative for anyone performing duties in real estate lending areas of the financial institution. This includes loan officers, supervisors, auditors, closing agents, compliance officers, trainers and others working in these types of positions.

Presenter:

Carl Pry is a Certified Regulatory Compliance Manager (CRCM) and Certified Risk Professional (CRP) who is a Vice President and Compliance Manager for a large financial institution in Ohio. Through his working career, as well as through his experience as a banking attorney and officer, he has provided a variety of regulatory compliance and financial performance services to financial institutions and other clients throughout the country. He has written extensively regarding consumer and commercial compliance, tax, audit, and financial institution legal issues, and is a frequent contributor to and currently serves on the Editorial Advisory Board for the ABA Bank Compliance magazine. He has spoken at dozens of banking, compliance, and state bar associations, and has conducted training sessions for financial institutions across the country.