Flood Zone

[flapp555]

I got a revision from a lender (not an AMC). I did an appraisal on a property that is in a flood zone. (It's a sale, not a refi) I said that it was in the report and added the flood map. They have sent it back 3 times telling me to change it from AE to X and that it is not in a flood zone because Corelogic told them so and provided a page to prove this. not that all these sources hold water but, MLS data, IMAPP, Realist, property records and FEMA say flood zone AE. They are still coming back for a 4th time telling me I need to change it to X. I called FEMA today and they said that it is in fact AE zone and so is everything around it. (It's not like it's on the cusp of not being in that zone). The whole map is lit up blue for AE everywhere around the house. The lender is still hounding me. I explained in the revision that I did not make any changes and why. I also listed all the sources. This is not the first time I've been pushed in the corner with this "well, Corelogic says so" revision. This time though, they aren't taking no for an answer. I refuse to change it. What do you all think I should do at this point to shut them up. They keep coming back with the same revision. I know I will wake up to another one in my email in the morning,

 

[Joe Flacco]

I think one more "no" will do it.

 

[Alsie35]

Did they provide you with a one page determination that this property is in X zone? I have sometimes gotten those and always made the changes because the determination was obtained from the appropriate US Govt sources - and always included it in the report with notation that it was provided by client.

The trouble with dated flood map data is that if only a 10% downslope of the LOT is AE (not the house) the map will still say AE in searches, but not if they ask for a determination just for the home from the govt. If THAT is what they sent you I would proceed as I noted above (unless you want risk losing this client).

 

[flapp555]

I think one more "no" will do it.

Thank you for at least a giggle today

 

[flapp555]

Did they provide you with a one page determination that this property is in X zone? I have sometimes gotten those and always made the changes because the determination was obtained from the appropriate US Govt sources - and always included it in the report with notation that it was provided by client.

The trouble with dated flood map data is that if only a 10% downslope of the LOT is AE (not the house) the map will still say AE in searches, but not if they ask for a determination just for the home from the govt. If THAT is what they sent you I would proceed as I noted above (unless you want risk losing this client).

Yes, it was a one page thing from Corelogic. Ok so you think I should make the change? I see your point. Thank you so much for the response. I'll sleep on it. I just don't want it to blow back on me that the property needs flood insurance especially since it's a purchase. Thank you!!

 

[OSU Beavers]

Sometimes a homeowner with get an elevation survey that shows their property and improvements are above the flood zone. Ask the Realtors if they have anything to document the flood zone.

 

[Fernando]

I thought no if Corelogic is a flood determinant company. Lenders pay 3rd party sources to verify flood zone. It's above our pay grade.
If lender persistent in changing, I would indicate what they want but you explain in your report that lender told you for the change.
Then you can put your sources to counter their claim and then you put disclaimers that you're not an expert, blah, blah, blah.
And make sure you bold face your comments and disclaimers so reader can't overlook it.

 

[OSU Beavers]

You should be able to look up your subject by address here

https://hazards-FEMA.maps.arcgis.co...ndex.html?id=8b0adb51996444d4879338b5529aa9cd

to determine the flood zone.

 

[glenn walker]

Mom

I got a revision from a lender (not an AMC). I did an appraisal on a property that is in a flood zone. (It's a sale, not a refi) I said that it was in the report and added the flood map. They have sent it back 3 times telling me to change it from AE to X and that it is not in a flood zone because Corelogic told them so and provided a page to prove this. not that all these sources hold water but, MLS data, IMAPP, Realist, property records and FEMA say flood zone AE. They are still coming back for a 4th time telling me I need to change it to X. I called FEMA today and they said that it is in fact AE zone and so is everything around it. (It's not like it's on the cusp of not being in that zone). The whole map is lit up blue for AE everywhere around the house. The lender is still hounding me. I explained in the revision that I did not make any changes and why. I also listed all the sources. This is not the first time I've been pushed in the corner with this "well, Corelogic says so" revision. This time though, they aren't taking no for an answer. I refuse to change it. What do you all think I should do at this point to shut them up. They keep coming back with the same revision. I know I will wake up to another one in my email in the morning,

Lenders required to obtain Flood Certification before funding on GSE FHA VA loans. Corelogic sells Flood Zones and insurance that subject not in flood zone. More accurate than a FEMA Map which doesnt cover individual parcels just area. I would request lender forward copy of Flood Certification and Zone. Then attach that to your report and change report to the Cert Zone. The flood Certification covers lender and is right 99% of the time.

 

[Dublin ohio]

Yes, it was a one page thing from Corelogic. Ok so you think I should make the change? I see your point. Thank you so much for the response. I'll sleep on it. I just don't want it to blow back on me that the property needs flood insurance especially since it's a purchase. Thank you!!

If you change it, I would put it on a dated comment page as the first page of the revised report. Citing what you did, why you did it and include commentary as to what your original findings were and the sources. Did you check the FEMA site for a LOMA or LOMR?