Event Calendar

Thursday, February 17, 2022

Deep Dive into Force-Placed Flood Insurance Webinar

Start Date: 2/17/2022 1:00 PM MST
End Date: 2/17/2022 2:30 PM MST


Event Website: https://financialedinc.com/a/ibc/webinar/deep-dive-into-force-placed-flood-insurance

Organization Name: Independent Bankers of Colorado

Contact:
Maelynn Lewis
Email: mlewis@ibcbanks.org
Phone: (720) 607-7937

The Flood Disaster Protection Act requires time-sensitive actions by the lender or its designated servicer during the force placement of a flood insurance policy. However, recent enforcement actions have identified this as an area of weakness.  How do your policies and procedures stack up? Numerous recent enforcement actions have identified weaknesses in force-placed flood insurance procedures. Join this in-depth program for a thorough look at the required action steps when a designated loan is identified as being underinsured or uninsured for required flood protection. Even after the activation of the force-placed policy, numerous steps are required to address duplicate coverage situations and refunds. This session will review the necessary steps and documentation requirements to force-place flood insurance from start to finish.
 
AFTER THIS WEBINAR YOU’LL BE ABLE TO:

  • Explain force-placement timing requirements
  • Properly prepare a notice of underinsured or uninsured flood insurance coverage
  • Understand the amount of force-placed flood insurance is dependent on how the borrower will be charged for the premium and the loan contract
  • Obtain documentation necessary to demonstrate evidence of flood insurance coverage in connection with a lender’s refund of force-placed premiums
  • Calculate refunds for duplicate flood insurance coverage
  • Recognize examiner-identified force-placement exceptions
  • Explain the action steps required when a FEMA map changes a loan into a SFHA
TAKE-AWAY TOOLKIT
  • Sample force-placed flood insurance procedures
  • Sample notice of insufficient flood insurance coverage
  • Force-placement transactional review checklist
  • SFHA tracking log
  • PDF copy of the slides
  • Employee training log
  • Interactive quiz
WHO SHOULD ATTEND?
This informative session is designed for lenders, loan processors, lending staff, compliance officers, risk officers, and trainers.
 
DON’T MISS THIS RELATED WEBINAR!
Real Estate Escrow Accounts & Flood Insurance, Tuesday, March 15, 2022
 
Attendance certificate provided to self-report CE credits.
 
MEET THE PRESENTER
Molly Stull, Brode Consulting Services, Inc.
Molly Stull began her career as a teller while working on her undergraduate degree and has continued working in the financial industry ever since.  She has experienced the growth of a hometown bank, branch mergers, charter changes, name changes, etc.  Molly has activated business resumption plans, performed secondary market quality control reviews, processed wires, filed SARs, and coordinated reviews with external auditors and examiners.  Her favorite role has always been educating staff and strongly believes that if staff understands the reason for a process they will be more compelled to follow the procedures.  Molly holds a bachelor’s from the University of Akron and an MBA from Ashland University.

THREE REGISTRATION OPTIONS – WHAT YOU GET
1. Live Webinar Includes
  • Unlimited connections within your institution to the Live Webinar
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Presenter’s contact info for follow-up
 2. On-Demand Webinar Includes
  • Recording of the Live Webinar
  • Available two business days following Live date
  • Handout and Take-Away Toolkit
  • Available on desktop, mobile & tablet
  • Free Digital Download, yours to keep
  • Share link with anyone at your institution
  • Presenter’s contact info for follow-up
3. Purchase the BOTH Option to receive all the benefits listed above! Full registration descriptions can be found here.