Flood Insurance Coverage Worksheet

This flood coverage worksheet can be used to determine the required amount of flood insurance both at the time of origination and throughout the servicing of the loan. It provides space for the applicantborrower and loanapplication information space to document the amount of required insurance using the calculation as well as space to document who completed the form and the.

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The amount and type of coverage being purchased location and flood zone and the design and age of your structure.

Flood insurance coverage worksheet. Why does the bank still need the borrower to get a flood insurance policy to comply with the flood insurance regulation. Vp at a bank 68m usa the worksheet helps calculate the amount of flood insurance required for. Flood disaster protection act policy and procedures audit worksheet.

Discussions about this document. This spreadsheet requires three input values. Flood insurance regulations are designed to protect the property owners interest.

For homes in high risk areas eg special flood hazard areas or ae ve zones built. Flood insurance coverage worksheet for condo interactive. Flood disaster protection act audit worksheet.

Showing top 8 worksheets in the category flood. For loans loan insurance or loan guarantees flood insurance coverage must be continued for the term of the loan. The flood insurance calculation worksheet will help determine the amount of required flood insurance as well as provide documentation of the dollar amounts used in the calculation.

When a customer buys a flood insurance policy or. Calculation of flood insurance. Flood insurance coverage worksheet for condo interactivexlsx.

Flood coverage throughout life of loan flowchart. Fema standard flood hazard determination form. For grants and other non loan forms of financial assistance flood insurance coverage must be continued for the life of the building irrespective of the transfer of ownership.

The bank has a blanket insurance policy in place from a private insurance company. The worksheet helps calculate the amount of flood insurance required for condos. Some of the worksheets displayed are floods lessen the national flood insurance program community rating system before the flood movie discussion work after the flood flood scenario work flooding am i at risk flood work.

It is an interative spreadsheet fill in the yellow fields with your loan information and the blue fields automatically calculate. A number of factors are considered when determining your flood insurance premium. Dan persfull of the peoples state bank has provided a quick way to calculate the minimum amount of flood insurance needed for flood requirements.

Calculating flood insurance coverage a step by step worksheet transaction details step 1. Document the details of the transaction application or account number applicant or borrower names collateral address primary purpose of subject property number of residential structures on property number of detached structures on property. Property type the result is the minimum amount of required coverage and up to five buildings may be entered at once.

The spreadsheet compares the lesser of the loan amountreplacement cost and the maximum. Flood insurance minimum coverage calculation documentation calculator.

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