Agencies propose revised flood insurance Q&As

Jun 29, 2020

Regulators requested public comment on new and revised interagency questions and answers on flood insurance. The agencies are proposing new Q&As to account for their joint rule regarding loans in special flood hazard areas.

The new Q&As, which have a 60-day comment period, relate to the escrow of flood insurance premiums, the detached structure exemption to the mandatory purchase of flood insurance requirement, and force-placement procedures. The agencies said they will separately propose new Q&As on the private flood insurance requirements of their February 2019 final rule.