Flood Zone Determinations allow lenders to document whether a home is located within a Special Flood Hazard Area (SFHA) as required by federal regulations. With an easy-to-read aerial map copy and the ability to integrate this process into an efficient automated workflow, you can help keep your portfolio protected from unnecessary risk.
Flood zones are ubiquitous in much of the continental United States. For lenders, it’s crucial to determine whether the collateral used to secure a mortgage loan is within a high-risk flood plain — and to document the details as a part of the underwriting process.
These critical reports help underwriters to determine if flood insurance is necessary. Failure to do so may lead to uninsured damage to the collateral, the potential for repurchase from an investor, and regulatory penalties.
While Flood Zone Determinations are intended to answer a simple question, they include a variety of important details that are sometimes misunderstood. With DataVerify's Flood Zone Determinations, you’ll receive a clear and useful report in a timely manner.
Not all Flood Zone Determinations are the same. With DataVerify, access the data you need with
a variety of secondary benefits and options.
Timely flood zone determinations for all 50 states and U.S. territories
Ordering platforms include web, loan origination systems, and custom interfaces. Reports may be delivered within the respective ordering platform, or by email.
Track the flood status of a property through the term of the loan. When a FEMA flood map is revised, DataVerify notifies you of mandatory purchase requirement status changes
Services range from life-of-loan monitoring of determinations not made by DataVerify to a complete quality audit of determinations in a lender’s portfolio
DataVerify will research, re-evaluate, and verify that an accurate determination has been made based on additional information provided by the customer
All relevant Census Tract data needed for HMDA reporting can be included on the Standard Flood Hazard Determination Form or as a standalone product
Include Flood Zone Determinations within your automated verification workflow for a more seamless underwriting experience.
The NFA Certification Program is designed to recognize companies that operate within the guidelines set forth by NFA to maintain standards of excellence, foster professionalism, and advocate quality services within the flood zone determination industry.
Start with a demo or free trial — it’s your choice. Connect with one of our Flood Zone Determination specialists today.
Generally, the following information is required:
Additional information to locate a property could include: