On July 21, 2015, the Agencies jointly published a final rule to implement new flood insurance requirements enacted by the Biggert-Waters Flood Insurance Reform Act of 2012 and the Homeowner Flood Insurance Affordability Act of 2014 requiring certain banks to escrow flood insurance premiums and fees for certain designated loans. This online training course will discuss the banks that are required to escrow, the loans that require escrow, and the notice that banks must provide to the borrower.
Course Learning Objectives
By taking this online Flood Disaster Protection Act: Escrow course, the user will learn to:
- Know whether or not the bank must escrow for flood insurance premiums and fees
- Provide proper notification to borrowers regarding escrow
This online Flood Disaster Protection Act: Escrow course is made up of the following sections:
- Escrow Notices
This Flood Disaster Protection Act: Escrow online training course was designed for bank employees.
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