During a renewal checklist, a renewal specialist identifies an issue involving flood-insurance requirements. Which response is most compliant?
Correct Answer
D) Require flood insurance when the property is in an SFHA
Flood insurance is required for designated loans secured by buildings in special flood hazard areas. The best answer is "Require flood insurance when the property is in an SFHA".
Why This Is the Correct Answer
Flood insurance is required for designated loans secured by buildings in special flood hazard areas. The best answer is "Require flood insurance when the property is in an SFHA".
More Federal Laws Questions
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A mortgage team asks a sponsorship reviewer about HOEPA high-cost mortgage rules during a state-law refresher. Which answer should guide the file?
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