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Flood Disaster Protection Act

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Flood Disaster Protection Act

Reviews are performed to determine compliance with the Flood Disaster Protection Act and related statutes and whether the institution obtains required flood determinations ; ensures adequate flood insurance is in force when a covered loan is made, increased, extended or renewed and maintained for the duration of the loan; provides the required notices to applicants when flood insurance is required; escrows flood insurance premiums when required; and complies with force-placement provisions.