Web(i) The loan is an extension of credit primarily for business, commercial, or agricultural purposes; (ii) The loan is in a subordinate position to a senior lien secured by the same … WebNov 21, 2024 · - Designated loan means a loan secured by a building or mobile home that is located or to be located in a special flood hazard area in which flood insurance is available under the Act. § 339.3 Requirement to purchase flood insurance where available. (a) …
Flood Disaster Protection Act {FDPA} Flashcards - Quizlet
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Federal Register :: Loans in Areas Having Special Flood Hazards
WebAug 26, 2015 · (2) In making, increasing, extending, or renewing these designated loans since at least 2011, the Bank engaged in a pattern or practice of violations of the Flood Acts and their implementing regulations, including 12 C.F.R. §§ 22.3 (requirement to purchase flood insurance where available) and 22.9 (notice of special flood hazards and availability … WebMar 23, 2024 · The credit union or a servicer acting on its behalf must document the determination using the Standard Flood Hazard Determination Form provided by the Federal Emergency Management Agency. This form must be retained for the life of the loan. Fees and Charges (NCUA Regulation, Part 760.8) WebLoan forgiveness is an incentive typically used to recruit and retain individuals to high-need occupations or geographic areas. Loan forgiveness programs either provide student … list of cement plant in the philippines