40 MARCH / APRIL 2021 PRODUCTS & SERVICES PROFILE Flood Zone Determination Service that is streamlined yet hands-on Rod Lasley Executive Vice President - Operations & Member Services Indiana Bankers Association rlasley@indiana.bank @rodlasley Efficiency is crucial in today’s mortgage market. Timeliness of documentation and information can be the success or failure of a transaction. Flood zone determination is one of those required procedures that needs to be completed in an accurate and timely manner. Flood zone determination often seems like just another required document … until an issue arises. How does your current flood zone determination provider handle borderline situations? For example, if a structure is close to a 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 rely on fully automated systems where the potential for error is significant. Computers often accept approximate locations as real locations, thereby pushing the source material far beyond accuracy. The system’s guess becomes your liability and your customer’s headache. If you have been burned by automated inaccuracies or flood zone issues regarding your real estate transactions, consider Floodplain Consultants Inc. as a quality solution when reviewing these services. In operation since 1991, FCI prides itself on timely, efficient delivery of flood determinations through its online ordering system that integrates with various mortgage platforms. When questions arise, the Floodplain professionals are quick to roll up their sleeves and take a hands-on approach to making sure the bank receives the most accurate report available. Floodplain Consultants is not trying to be a nationwide company. Instead, it focuses on Midwestern states including Indiana, Illinois, Kentucky, Ohio, Tennessee and Michigan. By remaining focused, FCI is able to maintain its site inspection policy, provide superior certifications and have greater familiarity with the communities it serves. FCI serves more than 300 lenders in the Midwest with flood zone determinations, census tract analysis, floodplain management and life-of-loan services. A longtime Preferred Service Provider of the Indiana Bankers Association, Floodplain Consultants is active with the Association and currently serves over 60 Indiana banks. A unique trait about FCI 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 subcontracting! Its team will gather all needed information to ensure the most accurate determination is provided. Conversely, if there is no question about the structure or property, the determination will be completed within 24 hours and presented to the lender. FCI additionally provides life-of-loan services as part of the determination process. The lender has the ease of mind of knowing that if a Special Flood Hazard Area changes, with the change affecting a property that has been reviewed, the lender will be notified so that flood insurance can be obtained. This personal service is crucial to the accuracy of the Floodplain Consultants Inc. is a Preferred Service Provider of the Indiana Bankers Association.
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