Seat Time: 0.75hrs - Desc:
This course will provide the learner with information about the National Flood Insurance Act of 1968. The learner will understand the amount of flood insurance generally given and which types of property are eligible for coverage. After completing this program, the learner will be able to:
- Comply with the Act’s requirements.
- Apply flood insurance to loans that require it.
- Differentiate between real estate that is and is not eligible for flood insurance.
T1. Flood: This topic will provide the learner with the purpose of the National Flood Insurance Act of 1968 and will familiarize him/her with its various aspects, including special and non-special flood hazard areas and high risk zones, in addition to steps to take to comply with the Act.
T2. Amount of Flood Insurance: This topic will familiarize the learner with the ways in which flood insurance can affect loans that require flood insurance.
T3. Eligible Property: This topic will provide the learner with lists of real estate that are and are not eligible for flood insurance, in addition to general and specific requirements that lenders must follow in regard to granting flood insurance.