FAQ: Flood Insurance

Question: I am about to issue a Loan Estimate and am unsure about disclosing the flood insurance. Can flood insurance be included with homeowner’s insurance and disclosed as one number, or do I need to break out the two charges?

Answer: TILA §1026.37(g)(2) states that flood insurance premiums should be disclosed separately from homeowner’s insurance premiums, so you should list these items separately.

Posted in
Contact Us
close slider