FLOOD INSURANCE CAN NEVER BE WAIVED BY A LENDER

Excess Exposure Calculation assists in determining if private flood insurance will be required on a loan secured by property located within a Special Flood Hazard Area and is required when the loan is:

• Secured by real estate with a structure
• Secured by a mobile home, even if real estate not taken
• Located in a Special Flood Hazard Area (Section D of Determination)
• Residential Loan amount over $500,000
• Commercial Loan amount over $1,000,000

Excess Exposure instructions are included on the Flood Calculation Form.

Note: Additional Approval must be obtained from respective Division Manager or Credit Administration if:

• Residential
  • The difference between the structure value and the total flood insurance coverage is more than $500,000.
  • If in a Mapped Non-participating community
  • If located in a CBRA or OPA area
  • Deductible is greater than $5,000 on structure, or
  • Deductible is greater than $2,500 on a mobile home
• Commercial
  • The difference between the structure value and the total flood insurance coverage is more than $1,000,000. 
  • If in a Mapped Non-participating community
  • If located in a CBRA or OPA area
  • Deductible is greater than $5,000.

Once completed, the Excess Exposure Calculation document is uploaded to Synergy (consumer purpose) or Abrigo (business purpose). If you need additional assistance with Abrigo, please contact _Abrigo Help.