Luật vay thế chấp liên bangCâu 89 / 400
Before closing a loan secured by improved real estate, a lender must obtain a determination of whether the property is located in a Special Flood Hazard Area. This determination is documented on:
a.The Loan Estimate
b.A Suspicious Activity Report
c.The appraisal report
d.The Standard Flood Hazard Determination Form
Giải thích
Federal flood rules require lenders to complete the Standard Flood Hazard Determination Form (SFHDF) to document whether the property securing the loan is in a Special Flood Hazard Area. This determination drives whether flood insurance is required. The Loan Estimate, appraisal, and SAR serve entirely different purposes.
Trích dẫn luật: Flood Disaster Protection Act / National Flood Insurance ProgramLuyện miễn phí toàn bộ 400 câu hỏi — không cần đăng ký.
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