An operations lead is training staff on flood-insurance requirements using a mortgage operations checklist. Which statement is accurate?
Correct Answer
A) 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".
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