Flood Determinations

Basic Flood Determination

First American's flood determinations guarantee your compliance with Federal regulations. Basic Flood Determinations provide you with a Standard Flood Hazard Determination Form that you need for compliance purposes, and the flood zone information that you need to determine whether flood insurance is available and required.  Every determination is based upon the currently effective FEMA Flood Insurance Rate Map as required by federal regulations. To obtain a fast and accurate response, the determination is processed through our comprehensive database of digital maps, parcels, and previously determined properties. Our technology streamlines this entire process to return your completed determination quickly.

Our basic flood determinations are returned to you on the FEMA Standard Flood Hazard Determination Form and include the following information:

• Whether or not the improved property securing the loan is within a Special Flood Hazard Area
• Flood zone designation
• Whether or not the property is within a Community which participates within the National Flood Insurance Program (NFIP), thus whether or not federal flood insurance is available in the community, and whether or not federal disaster assistance is available
• NFIP Community Number based upon the particular community in which the property is located or which has floodplain management jurisdiction over the property
• FEMA Flood Insurance Rate Map and panel number
• Whether or not the property is within a Coastal Barrier Resources System, which may impact whether federal flood insurance is available for the property
• Whether or not a Letter of Map Amendment or Letter of Map Revision apply to the property

Refinance/Related Loan Determination

When a client's borrowers request a piggyback loan, simultaneous second mortgage, or refinancing, our low-cost refinance/related loan determination is a quick, cost-effective solution for the client. Simply provide us the original or related loan number and we'll produce a determination.

In a refinance situation, we'll create a second determination and simultaneously monitor both records for future flood map revisions until notification of the first loan being cancelled. For related loans, we'll continue to monitor both the first and second loan records. In all other respects, the refinance/related loan determination is identical to our standard life-of-loan flood determination described above.

Special Properties Determination

Primarily used for commercial properties, raw land, or buildings under construction, this determination is a unique product specifically developed for commercial and construction lending. For commercial properties, special challenges might arise for flood determination providers and our Special Properties Determination service takes these into account.  We make it possible for you to receive determinations with building-specific information to ensure that you know which buildings on a large tract are within the special flood hazard area.

While the federal regulations may not require a Standard Flood Hazard Determination for a loan on raw land, or a large tract under development, you will certainly find it informative to receive flood zone information based upon the currently effective Flood Insurance Rate Map.  For example, in cases in which a subdivision is being created, you can receive a single Special Properties Determination to identify if the tract is inside, outside, or partially inside the special flood hazard area.  For developing subdivisions, we can identify which lots are inside or outside of the flood hazard area.  This eliminates the need to order determinations for each individual lot within the same subdivision or building phase by providing one determination at one price for all lots.  As lots are built upon and purchase loans are made, lenders may receive individual flood determinations on the applicable loans.

Along with an initial determination, we can provide life-of-loan monitoring for Special Properties Determinations, and related/refinance loan determination options are also available.

Life of Loan

Industry Leading Life of Loan Service

Basic Flood Determinations provide you the valuable flood information you need at the time of the closing of the loan; however, in this age of flood map modernization, flood hazard areas frequently change either increasing or decreasing with each change potentially impacted your loan portfolio.  FEMA is actively engaged in a multi-year, multi-million dollar project to revise flood maps resulting in maps which more accurately reflect the current flood hazard area conditions.  Properties previously outside of the flood hazard area may be inside the mapped flood hazard area following a flood map revision and you need to be aware of this change which impacts your compliance requirements and your risk.

Our fully transferable life-of-loan flood determination product assures you of current, reliable flood data over the life of the mortgage regardless of the extent or geographic area of flood map changes. It's the industry's most widely recognized life-of-loan product, with 14 out of the top 20 servicers either accepting or requiring life-of-loan monitoring from First American. That means peace of mind if a client holds their loans, and enhanced marketability should they decide to sell their portfolio.

After the initial determination is completed, we'll continue to monitor the property throughout the life of the loan for any flood map revisions, including Letters of Map Amendment or Revision, that might change the loan's insurance requirements.

When a FEMA flood map is revised, we'll send our clients notifications for any affected loans, along with an at-a-glance summary. Notices can be automatically uploaded into their servicing system or sent in electronic format. We can also provide optional borrower notifications with every updated flood zone determination for those situations in which borrowers need to be notified that flood insurance will now be required based upon a revised flood map.  This makes it easier for our clients to fulfill their compliance requirements.

Additional Services

Census Tract Data

To help lenders comply with the Home Mortgage Disclosure Act and the Community Reinvestment Act, census tract data is available with any of the First American Flood Data Services products and services.

A Census Tract Determination is an indication of the subject property's location with respect to MSA and census tract boundaries as defined by the United States of America Bureau of the Census.

Elevation Certificate Services

Property owners often need elevation certificates for purchasing flood insurance or compiling Letter of Map Amendment applications. By law, when a home or other structure secured by a federally-backed mortgage is located in a Special Flood Hazard Area (SFHA), the lender must require the borrower to obtain flood insurance. In order to properly rate the flood policy and determine the correct premium, the property owner's insurance agent may need an elevation certificate that shows the ground elevation at the base of the structure and the elevation of the first finished floor. The process of obtaining the certificate can be complicated, but First American makes it simple. Using convenient Internet or phone ordering, consumers can easily arrange for a local surveyor from First American Residential Land Services' nationwide network to oversee the entire process.

Request a quote for an Elevation Certificate here.

Technology

First American's wide range of connectivity options means fast, streamlined ordering, tracking, and delivery. Let our connectivity specialists design an optimal system that's fully compatible with your platform.

Real-Time Interfaces

Customers can utilize a number of industry-standard interfaces for connectivity through our secure data centers

Our most popular connectivity solution is our XML interface. This interface delivers real-time responses and supports the majority of our website's functionality, including new orders, cancels, edits, and disputes. Secure connectivity is available through SOAP and https posts. Through the XML response, a completed flood determination is returned with the associated flood information as well as an embedded PDF of the FEMA form. Our XML interface is MISMO compliant in the flood response for versions 2.3.2 and 2.4.

 

 

 

 

 

 

 

 

 

 

Loan Origination System (LOS) Interfaces
Whether you already have an established LOS, or would like to begin using one, you can take advantage of our various connections with the majority of LOS software packages including Calyx, Dynatek, Harland, MortgageFlex, FiServ, Encompass, Mortgage Cadence, Mortgage Builder, Avista and many others. Contact us to inquiry on the availability of your LOS interface within our facility. If we are not currently offering the interface, we will contact the LOS company to seek a means of integrating the interface.

Our transparent interfaces enable you to order your flood determinations without exiting your LOS to another ordering platform. The data is returned directly to your LOS.

Third-Party Vendor Portals
In addition to the connectivity solutions mentioned previously, First American products and services can also be ordered through portals including First American Equity Loan Services, Ellie Mae ePass Business Center, Fannie Mae DU Connections, and other portals.

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Web-based Solutions

FloodCert.com
First American's Web-based ordering and delivery system provides a simple connectivity and account management solution. Providing instant access to our extensive database of flood data resources, FloodCert.com easily accommodates single orders, delivering the vast majority of responses in real time.

You can also manage all aspects of your account with FloodCert.com's user-friendly functions including searching, tracking, order history, completed order notifications, and reporting.

First American Web Services
Our Web services allow you to order multiple loan closing products-including flood zone determinations-without re-entering loan data. First American Web Services (accessible at https://www.faws.firstam.com/faws/) is your interactive, one-stop ordering site for all of First American's origination products.*

*Note: Be sure to enter https before the URL to access First American's secure ordering site.

Servicing System Uploads
For many of our loan servicing clients, we can routinely deliver files via secure connections to Fidelity MSP and FiServ MortgageServ servicing systems.