Home >> Headlines >> ComplianceEase Launches FloodAnalyzer
Print This Post Print This Post

ComplianceEase Launches FloodAnalyzer

underwaterComplianceEase, a provider of automated compliance solutions to the financial services industry, announced that it has launched a new solution that helps mitigate risk by providing flood zone determination services.

FloodAnalyzer independently identifies a property’s flood-zone status and performs comprehensive analysis using the most current Federal Emergency Management Agency’s (FEMA) Flood Insurance Rate Maps and Flood Hazard Boundary Maps.

Two levels of certification are offered, including Basic Flood Certification and Life of Loan Flood Certification. Basic Flood Certification provides a single, fixed-in-time status of a property’s flood zone with findings that are based on continuously updated data outlining the risk of flood-zone exposure. Life of Loan Certification includes all of the findings in Basic Flood Certification along with an alert of flood zone status changes for a property, flood zone status tracking based on the changes to the Flood Insurance Rate Map (FIRM) for the life of the loan and monitoring of FEMA flood map revisions and National Flood Insurance Program (NFIP) community participation status changes.

“Missing flood certs continue to be a common pain point for clients especially when the defects create loan suspensions and even make the loan unsalable,” said John Vong, President of ComplianceEase. “FloodAnalyzer addresses this need directly by being able to retrieve flood status information with the speed and accuracy needed to close loans in today’s post-TRID environment.”

About Author: Staff Writer

x

Check Also

Fannie Mae: The Economic ‘Ramp Up’ Is Underway

The pandemic-driven recession of 2020 was unprecedented, and so is this next stage of economic recovery, the economic research team reports.

Subscribe to MDaily

MReport is here for you to stay on top of important developments in the mortgage marketplace. To begin receiving each day’s top news, market information, and breaking news updates, absolutely free of cost, simply enter your email address below.