Flood Diligence For Lenders

• Your employees can spend hours reviewing a single loan file, and if the collateral consists of a complex property, reviews can take days.  

• Employees can only use the resources available to them to determine if a structure is eligible for flood insurance. This starts with a Standard Flood Hazard Determination Form (SFHDF) which is then compared to appraisals, engineering reports, and Google satellite and street images. The issue with this, is that these reports don’t look at structures from a flood insurance eligibility perspective which leaves it up to your employee to decide.

• A Pre-closing flood property inspection from Ancram Consultants puts a report in your employees’ hands and answers all of the typical questions they’ll have during their review. 

• Over the life of the loan, this report can save a tremendous amount of resources.

• Ancram Consultants provides a detailed flood property site report that provides everything your internal team needs to understand the collateral being reviewed. From Building to Contents, your team will have the information they need to finish their review quickly. 

• Click below for a sample report

• It’s always a good idea to perform a flood property site inspection at origination, but this isn’t always an option. Maybe some of your collateral has ‘mapped-in’, or you find yourself under scrutiny and need to get a better understanding of collateral in a flood zone. 

• We understand that flood insurance issues can cause disruption at any size institution. Directing employees to focus on flood issues or bringing in an outside team of flood experts to review files isn't always the most cost-effective way to resolve your issues. 

• Ancram Consultants provides a detailed flood property site report that provides everything your internal team needs to understand the collateral being reviewed. From Building to Contents, your team will have the information they need to finish their review quickly. 

• Sometimes an institution is under time constraints to provide details regarding loan collateral located in flood zones. It's not easy pulling employees from other departments and trying to train them on how to do a flood review.

• Ancram Consultants can integrate our team with yours to assist in your review and to help train your employees. 

• We understand that every client has different needs and we’re here to help. We genuinely love what we do and we’ve assembled a team that looks forward to assisting you in any way possible. 

• Contact us today to discuss plans that meet your specific diligence needs.

• You never know what you'll find when it comes to Flood diligence. 

•Click on the link below for case studies