Forced Placed Insurance

When a property is determined to be located within a Special Flood Hazard Area (SFHA), the client is notified and has 45 days to purchase the necessary amount of flood insurance as stipulated by the National Flood Insurance Reform Act. The Borrower Letter of Notification can be printed by selecting the corresponding option from the print screen. If after receiving this letter, insurance coverage is not obtained within the allotted time, the lender or servicer maintains the authority to purchase flood insurance on behalf of the borrower for the improvements and charge the premium to the borrower.