COMMERCIAL FLOOD SERVICES

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Across
  1. 5. a written agreement between bank and owner of property, giving the lender the right to take the property if the borrower of a loan fails to repay money that was borrowed
  2. 6. borrowers acknowledgement that the property is in a high risk flood zone
  3. 7. managed by FEMA, this agency provides flood insurance to property owners, and renters. Works with communities required to adopt and enforce floodplain management regulations
  4. 9. defined as having at least 2 walls, a roof, and permanently affixed to the ground.
  5. 10. an entity or individual who owns property and grants permission for it to be taken as collateral on a loan.
  6. 11. created in 1973-provides that a regulated lending institution may not make, increase, extend, or renew any loan secured by improved real property that is located in an SFHA unless the improved real property is covered by the minimum amount of flood insurance required by statute.
  7. 12. An excel based calculation document used by CFS to determine the amount of required flood insurance on a loan or loans
  8. 15. Delivers customized content regarding the loan process
  9. 16. the highest level of underwriter on a particular loan approval
Down
  1. 1. A virtual filing cabinet that houses all flood positive transactions worked by CFS
  2. 2. on a participation loan, these banks are not the lead bank, but do hold various smaller percentages/amounts of the loan
  3. 3. provides comprehensive details about a property, including its address, the names of the current owners, a physical description of the building or site, improvements and its history. It is not a commitment to provide an insurance policy
  4. 4. Issued by a vendor on behalf of the Dept of Homeland Security & FEMA, this is a document issued to certify whether a property is located in a high risk or low risk flood zone based on FEMA flood maps.
  5. 8. An emergency agency that is part of the US Dept of Homeland Security that coordinates the response to a disaster that overwhelms the resources of local and state authorities.
  6. 13. an official amendment, by letter, to an effective National Flood Insurance Program (NFIP) map. A LOMA establishes a property's location in relation to the Special Flood Hazard Area (SFHA)
  7. 14. lead bank on a syndicated loan