Regulators to Look At Loans With Private Flood Insurance
July 22, 2002
Regulators to Look at Loans With Private Flood Insurance Federal regulators are going to scrutinize residential mortgage loans with private flood insurance to see if the coverage meets federal standards. The Federal Emergency Management Agency and thrift and banking regulators are concerned that the percentage of mortgage lenders purchasing private coverage for mortgages on properties located in high-risk flood areas is increasing.