24 Hoosier Banker June 2016 If you have been “burnt” by automated inaccuracies or flood zone issues regarding your real estate transactions, Floodplain Consultants Inc. (FCI) is a quality solution to consider when reviewing these services. The company has been providing accuracy and reliability since 1991. It is not trying to be a nationwide company, instead focusing solely on Indiana, Illinois, Kentucky, Ohio, Tennessee and Michigan. This focus allows FCI to maintain its site inspection policy and provide superior certifications, due to familiarity with the communities it serves. PSP SHOWCASE Two qualities banks rely on are accuracy and reliability in all areas of the institution. These traits are even more crucial for flood zone determinations. How does your current flood zone determination provider handle borderline situations? If a structure is close to the 100-year floodplain, does the system default to the conservative answer and indicate that flood insurance is required? What if that is not the correct answer? Many companies are using fully automated systems, creating significant potential for error. Computers often accept approximate locations as real locations, thereby pushing the source material far beyond its real level of accuracy. The computer’s guess becomes your liability and your customer’s headache. FCI is currently serving over 300 lenders within the Midwest with flood zone determinations, census tract, floodplain management and life of loan services. With its Midwestern focus, FCI has been a longtime Preferred Service Provider of the Indiana Bankers Association and an active IBA participant, serving more than 70 Indiana banks. What sets FCI apart from its competition is that, if there is any kind of question regarding the location of a structure in relation to a special flood hazard area, FCI will do a site inspection with its own personnel ‒ no sub-contracting. It will gather all needed information to make sure the most accurate determination is provided. If there is no question about the structure or property, then the determination is completed within 24 hours, and back to the lender. The company also provides life of loan services as part of the determination process. This gives the lender the ease of mind to know, that if a special flood hazard area changes, and it affects a property that has been reviewed, the lender will be notified, so flood insurance can be obtained. This personal service is crucial to the accuracy of the flood zone determination, and for this reliable service FCI will be slightly more expensive than the fully automated competitor. However, value is ensured, because the bank’s collateral is properly designated. With other companies, a bank may need to be concerned whether collateral will be destroyed, with no coverage, during the next catastrophic event. Customer service is a major factor for FCI. If at any time a lender or Indiana Bankers Rely on Accuracy and Reliability HOW IS YOUR FLOOD ZONE DETERMINATION PROVIDER HANDLING BORDERLINE CASES? n Flood Zone Determinations n LOMA/LOMR Assistance n Flood Insurance Guidance n Interfacing with: Encompass 360, Calyx Point, Byte Pro & Fis-Serv Craig Callahan 800-945-0246 ccallahan@floodplain.com We take pride in our industry leading accuracy and customer service. Find out what a true “community bank” minded company we are. Preferred Service Provider of the iBA. Celebrating 25 years of serving lenders in 2016!
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