Glossary of Terms
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Resources/Glossary of Terms
Community Rating System (CRS) - A federal initiative that provides incentives for communities to go beyond the minimum floodplain management requirements by developing extra flood protection measures. Policyholders within these communities receive a...
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Community Reinvestment Act (CRA) - A United States federal law enacted in 1977 that requires banks and thrifts to offer credit throughout their entire market area, including home ownership opportunities to underserved populations and commercial...
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Resources/Glossary of Terms
Community Status Book (CSB) - FEMA document that provides a listing of communities' NFIP participation status. The CSB is identified by federal regulators as the recommended source for community NFIP participation information for lenders to use when...
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Resources/Glossary of Terms
Conditional Letter of Map Amendment (CLOMA) - Letter issued by FEMA based on its review of proposed construction that indicates the map will be amended if the improvement(s) is/are built as proposed. CLOMAs do not affect the mandatory purchase of...
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Resources/Glossary of Terms
Conditional Letter of Map Revision (CLOMR) - Letter issued by FEMA based on its review of proposed physical changes to protect areas from flooding (e.g., channelization of a flood source, detention ponds) that indicates the map will be revised if...
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Resources/Glossary of Terms
Conditional Letter of Map Revision Based on Fill (CLOMR-F) - Letter issued by FEMA based on its review of a proposal to build improvements on a site that has been (or will be) graded and filled in order to raise the level of the land above the BFE....
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Resources/Glossary of Terms
Condominium - Form of ownership in which each unit is separately owned. Individual ownership is of the interior unit only. All condominium owners own joint title to the common areas though a condominium association. When the mandatory purchase of...
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Resources/Glossary of Terms
Construction Loan - Loan provided solely for the construction, remodeling, renovation, repair, demolition, or addition of improvements on a property. Buildings in the course of construction often act as collateral for construction loans; such...
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Resources/Glossary of Terms
Conventional Loan - Mortgage that is not insured by a government agency such as SBA, FHA, or the VA.
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Resources/Glossary of Terms
Countywide Map - A Flood Insurance Rate Map that shows flooding information for the entire geographic area of a county, including the incorporated communities within the county.
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