Printable_BrochureThis program reviews the new and proposed questions. These Qs and As have been evolving for several years. The final result eliminates some of the mystery and confusion that has surrounded the area of flood insurance for years.
On July 21, 2009 the OCC, Federal Reserve Board, FDIC, OTS, FCA, and NCUA issued final revisions to the Interagency Questions and Answers Regarding Flood Insurance (Interagency Questions and Answers). The Agencies are also soliciting comments on proposed revisions to the Interagency Questions and Answers. The revisions were effective on September 21, 2009.
The agencies continue to closely scrutinize the area of flood insurance and impose penalties for violations. Hopefully the clarification provided by the new Qs and As will eliminate some of the violations that result from lack of clear guidance. Participants receive a detailed manual that serves as a handbook long after the program is completed.
> Upon completion of the program participants will understand:
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The treatment of loans being restructured due to default;
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Whether lenders must perform periodic reviews of its existing portfolio;
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The treatment of loan participations and syndications;
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The required amount of insurance;
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Loans secured by multiple buildings;
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The determination of the insurable value of a building;
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What constitutes a reasonable deductible on a flood insurance policy;
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Requirements for constructions loans;
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Requirements for nonresidential buildings;
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Requirements for residential condos;
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Requirements for home equity loans, lines of credit and second mortgages;
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Force placement of insurance;
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Private insurance policies;
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Standard Flood Hazard Determination form;
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Flood determination fees;
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Flood Hazard notice;
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Penalties;
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Escrow requirements; and
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Much more.
Workshop Resources: This program provides a detailed review of the new questions and answers. Program participants receive a detailed manual, accompanied by a 1 hour and 33 minute video webcast.
Expected Audience: The program is designed for loan officers, compliance officers, loan secretaries and clerks and auditors.
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Speaker: Jack Holzknecht, is a principal with Pegasus Educational Services, LLC, a training firm headquartered in Louisville, Kentucky. He is an experienced consultant who has provided training to thousands of bankers and examiners for twenty-eight years. He has the ability to identify the key compliance issues from each regulation. Jack's career began in 1976 as a federal bank examiner. He later headed the form and software and education divisions of a regional consulting company. |
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In that capacity he developed loan and deposit form systems and software. He also developed and presented training programs to bankers in 43 states. He developed and delivered compliance training for the FDIC and OTS for ten years. He is a Certified Regulatory Compliance Manager and a member of the National Speakers Association.
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