Flood Determinations

NVS is partnered with three of the leading national flood determination providers to ensure accuracy and compliance with NFIP (National Flood Insurance Program) regulations.

We offer Basic Determinations and Life-of-Loan tracking for residential and commercial real estate transactions.

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Basic Determination — provides the subject property’s current flood zone status which determines whether the borrower is required to purchase a flood insurance policy prior to closing.

The information is presented on a Standard Flood Hazard Determination Form as required by the Federal Emergency Management Agency (FEMA).

Access to extensive databases (over 150 million properties) allows us to deliver a completed determination within seconds on most orders (90% for residential properties). Those that require manual research are usually completed within 24 hours.

Census Tract and MSA (Metropolitan Statistical Area) data is also available for Home Mortgage Disclosure Act (HMDA) reporting.

Life-of-Loan Tracking — monitors the property address for map changes reported by FEMA over the life of the loan.

We notify the servicing lender of changes in the flood zone or community status, which could impact insurance requirements or insurance availability on the property.

Notifications of map and zone changes are sent within sixty (60) days of the official map change date.

This service is fully transferable when servicing rights are transferred.

Portfolio Risk Management — Review and Maintenance

It’s common for mortgage servicers to acquire loan portfolios that have incomplete or missing flood information. We can review an entire portfolio and report updated flood information on each property.

If we find a discrepancy with the existing flood status on a property, we’ll issue a new determination and assume liability from that point forward.

After a portfolio is updated with current flood information, we recommend adding our life-of-loan tracking to ensure compliance is maintained when FEMA reports future map changes.

For more information regarding flood compliance, visit our Compliance Insights section.