; flood
Documents
Resources
Learning Center
Upload
Plans & pricing Sign in
Sign Out

flood

VIEWS: 23 PAGES: 28

  • pg 1
									FLOOD
DETERMINATIONS
Delivering added value to your credit
reporting services.
Introduction
  What is a Flood Determination?
    • An official declaration stating whether or not a
      property lies within a Special Flood Hazard Area
    • Generically referred to as a “flood certificate”
    • A certificate that protects investors and borrowers
      by ensuring flood insurance is purchased for
      properties in at-risk areas
  Who uses Flood Determinations?
    • Any federally-regulated lender or government-
      sponsored enterprise is required to perform a flood
      zone determination for any mortgage loan they
      provide
Features
 Fully embedded in the MCL system
   • Integrated ordering and billing
   • Available on Settlement Services Worksheet
     (SSW)
Features
 Ordering Options
   • Life of Loan: Adds tracking for changes to flood status
     for the life of the loan
   • HMDA: Metropolitan Area and Census Tract information
     provided for lender compliance with the Home Mortgage
     Disclosure Act (HMDA), which requires federally-
     regulated lending institutions to report public loan data
   • Transfer: Transfers the existing flood to another lender.
     This is used when the lender sells/transfers the loan to
     another lender, and this feature is only available if the
     flood has Life of Loan
   • Re-Certify: Creates a duplicate/new flood report on the
     property. This is used when the lender does a refinance
     or equity loan, and is also only available if the flood has
     Life of Loan
Enabling Customers to Pull Flood
Reports
 Each customer must have their own Flood ID or
 Login/Password from a flood provider (Geotrac or DPSI,
 respectively).
 We will first show you how to enable flood ordering for the
 customer, then the flood ordering process.




   Under the Admin section, click on Setup Customers.
Enabling Customers to Pull Flood
Reports




  Enter your search criteria (or none to return a complete
  customer list) and click the Search button.
  Find the company you want, and click their name to enter
  the Customer Setup.
Enabling Customers to Pull Flood
Reports


 From the Customer Setup screen, click on the Other
 Products tab, and scroll down to the Flood Report section.




 Select a flood provider and enter in the Flood ID (Geotrac)
 or User ID and Password (DPSI).
Flood Charges and Options




 These fields allow you to set charges for flood reports and add-on charges
 for: Life of Loan (guarantees the certificate issued to be good for the life of
 the loan), HMDA (includes geostatiscal data in accordance with the Home
 Mortgage Disclosure Act of 1975), and Rush Order (attempts a rush
 order).

 The options to Require Life of Loan and Require HMDA will always add
 those options (respectively) when a client orders a flood report.

 Once finished, return to the top of the screen and press the Save button.
Ordering Flood Reports
 Login as a user and click on the Order tab.




 Under the Flood Zone Determination section, click on the
 Order Flood Determination link.
Ordering Flood Reports
  Enter in the consumer’s name and property address.
Flood Report Options




Life of Loan: Guarantee that the issued certificate is good for
the life of the loan
HMDA: Include geostatistical data in accordance with the
Home Mortgage Disclosure Act of 1975
Rush Order: Attempt a rush order. Again, using this option
may incur an extra charge.

After selecting the desired Flood Report options, click on the
Order button.
Flood Order Results
This is the Flood results page.




 The Flood orders will either return a Manual status, which
 means the map technicians will have to manually process
 the order (which can take 1-2 days), or the status will be
 Completed.
Flood Order Results




   Click on the View button to display the flood report.
Viewing the Flood Report




 This is the Flood report. Close the report to return to the
 results screen for more options.
Flood Order Results




Click the Re-Certify button to create a duplicate/new flood
report on the property. This can be used when a lender
does a refinance or equity loan on the same
borrower/property, and is only available if the flood has
Life-of-Loan protection and if the flood provider is Geotrac.
Flood Re-certification




   Type in a New Loan # and press the Submit button.
Flood Re-certification Results




  This is the results page of the re-certified Flood report.
Transferring a Flood Report




Click the Transfer button to transfer the flood report to another lender.
This is used when the lender sells/transfers the loan to another lender.
That new lender will also need risk change notifications for the life of
the loan. This feature is only available if the flood has Life-of-Loan and
if the flood provider is Geotrac. Note: We do not create a new flood
record, since the target lender may or may not be in our system.
Transferring a Flood Report




Select a lender to transfer the Flood to and enter in a New
Loan ID. If the lender is not listed here, please contact
Geotrac to have the lender added. Click on the Continue
button to submit the order.
Transferred Flood Results




 This is the transferred Flood results page. Click on the
 Close button to return to the Main menu.
Checking Flood Status or Adding
Options




 To check the status of a Flood Report or add more options
 to a report, click on the Find Flood Determination link.
Checking Flood Status or Adding
Options




 Enter in the search criteria (or none to return a complete
 list) and click on the Submit button.
Checking Flood Status



 The status of the Flood will be displayed under the Status column.
 The following states are used for status:

 NEW: New entries that haven’t been processed
 PENDING: Entries waiting for a response from Geotrac
 MANUAL: Entries where Geotrac is looking up information
         manually.
 COMPLETED: Completed entries
 ERROR: Entries where processing has failed
 CANCELLED: The request was cancelled by the user
 TRANSFERRED: Flood was transferred to another lender
Adding Flood Options




 Under the Borrower column, you can click on the
 consumer’s name and property address to add more
 options to the existing Flood report. This example will
 show you how to add a Life-of-Loan onto an existing
 report.
Example: Adding Life-of-Loan




 This is the results page of an existing Flood report. Click
 on the Add Life-of-Loan button to add a Life-of-Loan to this
 report.
Example: Adding Life-of-Loan




        Click OK to confirm the order.
Example: Adding Life-of-Loan




 Life-of-Loan is now added onto the existing report. This
 concludes the tutorial. The next slide contains contact
 information for the flood providers Geotrac and DPSI.
Reference
 Flood Providers

   • Geotrac
     www.geotrac.com
     1-800-436-8722

   • DPSI
     www.dpsi-corp.com
     1-800-736-3109

								
To top
;