Various Perspectives
Who Said We Needed Flood Insurance?

The US Government, through Fanny Mae, Freddie Mac, Ginney Mae, FHA, make it possible for bankers to make
lots of home loans with their guarantees.  The government decided that making loans for homes that could wash
away was avoidable and formed the National Flood Insurance Program (NFIP), now within the Department of
Homeland Security and more specifically within the Federal Emergency Management Administration (FEMA).   So
FEMA sets rules for new construction and provides optional flood insurance for any home, and required flood
insurance for homes at greater risk than once in a 100 years.   The Bankers (e.g. BofA, Wells Fargo, Chase...)
who want to use the services of the Government Loan Guarantee programs  are required to make any homes at
greater than this 1% risk to carry flood insurance.  The flood insurance is offered by a broad variety of agents,
but all the risk goes back to the National Flood Insurance Program.  If you ignore your banker's request, they will
buy you a very expensive policy, not one provided by the NFIP, and charge you for it....don't ignore them.

So the FEMA engineers determined the risk and Freddie Mac forced WellsFargo to require you to pay for the
insurance since your home was at risk.  Farmer’s sold it to you.  Once FEMA changes your zone, Freddie Mac
drops the requirement.  You can talk Wells Fargo into dropping it because the only reason they put it on was
Freddie Mac's requirement.  Once the Wells Fargo requirement is gone, you can get a refund through Farmer’s.

For Insurance Agents
Call if any LOCAL client is required to buy flood insurance.  We will review their case and if possible get them a
lower rate.   There is no risk to the referral as they will pay nothing until they have either a LOMA which you know
will end their requirement if they follow the process, or they will have an Elevation Certificate which triggers a
reduced policy cost, or they will pay nothing.

For Realtors
Call if any LOCAL client is required to buy flood insurance.  We will review their case and if possible get them a
lower rate.   There is no risk to the referral as your client will pay nothing until they have either a LOMA which
you know will end their requirement to buy flood insurance if they follow the process, or they will have an
Elevation Certificate which triggers a reduced policy cost, or they will pay nothing.   A check written out of Escrow
is just fine with us and may allow the cost to be spread over a longer period.

For Local Home Owners
Call if you are required to buy flood insurance.  We will review your case and if possible we will work with your
insurance agent to get you a lower rate.   There is no risk to you as you will pay nothing until you have either a
LOMA which you know will end their requirement if you follow the process we define, or you will have an Elevation
Certificate which your insurance agent indicates has triggered a reduced policy cost, or failing both, you will pay
nothing knowing you tried.

For Local Home Buyers
We rely heavily on the client acting in their own best interest, and if the deal falls through and we succeed in
obtaining a LOMA or a productive Elevation Certificate, we still want to get paid.  You either wait until you
become the home owner or you put up a deposit for the full amount, refundable only if we don’t produce a LOMA
or a productive Elevation Certificate.   We will review the case and if possible get the home a lower rate.   Until
you have either a LOMA which you know will end the lender’s requirement if you follow the process we define, or
you have an Elevation Certificate which is certain to result in a reduced policy cost, your money is still on
deposit.  Failing both, you will get a full refund.   If the owner of the property accepts the responsibility, you can
get your deposit back.

For Land Surveyors anywhere in the US outside Northern California
Send me the map with the client location marked.  Include your contact information and the client’s contact
information either with the map or a separate email.   I will do the research, possibly including asking the client a
few questions, then I will email you a task list to give to your field crew.   Once their results are in, we will
complete the Elevation Certificate or the Request for a Letter of Map Amendment, whichever will be useful to
your client after you have reviewed the document to the point where you are clearly “in Responsible Charge” of
the results and then certify the results.   If applicable, I will follow up with the client and/or his insurance agent to
be certain the impact was optimized.   If applicable, I will become the contact for the Request to FEMA for the
LOMA and will either reply to or clearly request added information needed by FEMA to make their decision.  It is
not our intent to teach your team to do the whole job, but rather to become remote members of your office staff.   
Call Larry Lincoln 408 667-4102 to dicusss.
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