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Flood insurance compliance remains one of the highest-risk compliance areas for financial institutions. Just a few violations of the federal flood insurance requirements can be considered a "pattern or practice" by regulators, resulting in public enforcement actions and civil money penalties. As a result, financial institutions should ensure that employees responsible for their flood insurance program have a thorough understanding of the federal flood insurance requirements.
For this reason, we created Flood Compliance Foundations.
Flood Compliance Foundations was developed to provide financial institutions with a practical understanding of the federal flood insurance requirements. Rather than simply reviewing the regulations, this nearly four-hour program explains how the rules apply throughout the lending process—from determining when flood insurance is required to meeting ongoing responsibilities after loan closing. Equivalent to approximately two traditional two-hour webinars, the program provides the time needed to thoroughly explore one of the most complex areas of consumer compliance.
This practical training program covers the essential federal flood insurance requirements for those responsible for managing, overseeing, or auditing a financial institution's flood insurance program, including:
Determining When Flood Insurance Is Required – Determine when the federal flood insurance rules apply and identify transactions that qualify for an exemption.
Core Flood Insurance Requirements – Learn when a flood hazard determination must be obtained, when to provide required borrower notices, and how to calculate the minimum amount of flood insurance required.
Ongoing Compliance Responsibilities – Understand escrow requirements, force placement procedures, acceptance of private flood insurance policies, recordkeeping obligations, and the penalties that can result from noncompliance.
Reducing Compliance Risk – Discover common compliance pitfalls, examiner expectations, and practical strategies to strengthen your institution's flood insurance compliance program.
Flood insurance compliance extends well beyond determining whether flood insurance is required. Financial institutions must understand how the federal flood insurance requirements work together throughout the lending process to maintain a compliant flood insurance program.
Flood Compliance Foundations was designed to provide that practical understanding. Whether you're responsible for compliance, lending, loan operations, auditing, or overseeing your institution's flood insurance program, this course provides the knowledge and confidence needed to navigate one of the most complex areas of consumer compliance.
This program is ideal for anyone responsible for managing, overseeing, or auditing a financial institution's flood insurance program, including compliance officers, internal auditors, risk management professionals, lenders and loan officers, mortgage and consumer lending staff, loan processors and underwriters, and others involved in administering their institution's flood insurance requirements.
Whether you're new to flood insurance regulations or want to strengthen your understanding of the requirements, Flood Compliance Foundations provides the practical understanding needed to effectively manage your institution's flood insurance compliance program.
4.75 CRCM, CERP credits. ABA Professional Certifications is dedicated to promoting the highest standards of performance and ethics within the financial services industry. The Flood Compliance Foundations program has been approved for 4.75 CRCM, CERP credits. This statement is not an endorsement of this program or its sponsor. Certification holders must report these credits at aba.csod.com.
EARLY BIRD PRICE: $299 (Regular: $399)
Get 50% off the regular price for one additional attendee. The total cost will be the current price (regular or discounted) for the first attendee plus $199 for the second attendee. (Click the second button below to avail this discount.)
Multiple attendee discount. Discounts for 3 or more attendees are available. Email us or contact us here.
PREVIEW THE CLASS BEFORE YOU BUY? If you would like to demo this class before you purchase it to make sure it's what you are looking for, just let us know and we can work something out.
The class is presented in multiple videos and will provide comprehensive information on Flood Insurance requirements. The total time of video instruction in this program is 3 hours 54 minutes.
See below for the full curriculum:
Introduction
Definitions, Eligibility, and Exemptions
Basic Requirements
Flood Determinations
Non-participating Communities
Flood Notices
Amount of Flood Insurance
Second Mortgages & HELOCs
Condominium Policies
Multiple Structures
Other Requirements
ESCROW
Force Placement
Acceptance of Flood Insurance Policies
Record Retention and Penalties
Mitigating Risks
This Compliance Class provides you with a deep dive into the requirements for financial institutions.
The class includes the following:
A comprehensive manual
A “virtual classroom” instructional video
60-day access to the class
Certificate of completion (1 per registration - available upon request)
All of our Compliance Classes are presented in our virtual classroom approach. This approach is designed to bring the presenter to you (at a fraction of the cost of having a live person) and includes a video of the presenter in front of a slide presentation that replicates a typical seminar environment. In addition, our presenters take a three-part approach to compliance instruction: to educate, to empower, and to entertain. This is achieved by focusing on relevant topics, speaking in simple to understand, layman's terms, and by keeping it light and humorous whenever possible. We have found that this "3-E" approach allow students to learn as quickly and effectively as possible. And, it adds a little bit of fun to an otherwise dreadful topic.
Certificates of completion are now available upon request. One certificate is available per registration.
When you purchase this compliance class, you get instant access to the online version of this class for 60 days. You will also receive an electronic version of the accompanying manual to keep.
We believe in our training products so much that we are offering a 100% money back guarantee within the first 10 business days after purchase. If you do not feel that you received the value promised for this training session, contact us within the first 10 business days after purchase and we will either make things right or provide 100% of the purchase price back to you.
