Examples of Director of FEMA in a sentence
Notwithstanding the foregoing, Servicer shall have no liability to Owner or any third party for any penalties or fines imposed based on Servicer’s failure to timely notify the Director of FEMA and the flood insurance provider related to a servicing transfer if Servicer is not provided with flood insurance information; provided that, the Servicer shall have promptly provided Owner with notice of such missing flood insurance information.
Federal law allows a lender and borrower jointly to request the Director of FEMA to review the determination of whether the property securing the loan is located in a special flood hazard area.
During the life of a 30-year mortgage loan, the risk of a 100-year flood in a special flood hazard area is 26 percent (26%).Federal law allows a lender and borrower jointly to request the Director of FEMA to review the determination of whether the property securing the loan is located in a special flood hazard area.
The Director of FEMA will review each request and may grant a plan approval extension of up to six months.
The Director of FEMA has designated the insurance provider to receive the member bank’s notice of the servicer’s identity.
When a member bank makes, increases, extends, renews, sells, or transfers a loan secured by a building or mobile home located or to be located in a special flood hazard area, the bank shall notify the Director of FEMA (or the Director’s designee) in writing of the identity of the servicer of the loan.
Following receipt of a notice from the Director of FEMA or other provider of flood insurance that pre- miums are due, the member bank, or a servicer acting on its behalf, shall pay the amount owed to the insurance pro- vider from the escrow account by the date when such premiums are due.
The member bank shall notify the Director of FEMA (or the Director’s designee) of any change in the servicer of a loan de- scribed in paragraph (j)(1) of this sec- tion within 60 days after the effective date of the change.
States may request an extension to the deadline of up to six months to the Director of FEMA by providing written justification in accordance with 44 CFR 201.4(a)(2).* * * * *■ 8.
During the life of a 30-year mortgage loan, the risk of a 100-year flood in a specialflood hazard area is 26 percent (26%).Federal law allows a lender and borrower jointly to request the Director of FEMA to review the determination of whether the property securing the loan is located in a special flood hazard area.