interflood has bad data!

[rtubbs]

Ross, I still review the flood map and fill in the section on the URAR. If there is no question that the property is not located in a SFHA, I check no. If I am in doubt, I explain that in the addtional comments (that I could not determine if the property was located in a sfha and that the lender should obtain an engineering determinatin).

It's not uncommon to see a contradiction between the certification and the appraiser. If the flood cert identifies a property as not being in the sfha when I know it is, I won't change my position. If the flood cert identifies a property in a sfha when I know it's not, I leave the battle to the lender.

If the property's location is questionable, I think we would be safe it stating that we couldn't determine if it is or is not in a sfha, recommending a survey, and leaving it at that.

Ron in Alabama

 

[Dee Dee]

Ross,

One appraiser that I know who has done thousands of reports over the years consistantly fills out the flood section in the 1004 form as follows:
He will check the yes or no box as to wether the subject is in a flood zone, put in the correct (as far as he can tell) flood zone letter (C or X), he leaves the map date blank, then he will simply puts in 'Lender to Verify' where the map number would normally be submitted.
He says that it is extremely rare that the lender will ever ask for more information than that, but if they do he will fax them an addendum with the full information and the standard disclaimer attached.
My first reaction when I saw the way he did his was that I thought he was being lazy, but one could argue that we, the appraisers, are not flood experts and we should not put ourselves in a position to be considered as such.
Although I fill out the full information in the appropriate boxes, I discontinued putting a full-sized map page in my reports about a year ago, and not once has this ever been questioned.
If lenders in all 50 states are required to obtain flood certification anyway, then as far as I'm concerned the entire flood map section should be removed from appraisal forms.

 

[Ross (CO)]

Thank you Ron and Dee Dee. Perhaps it does make sense to seriously consider now the regular entry of a brief line in the "comments" field just below the flood data boxes.....something to the effect of "Lender to verify flood certification with professional survey and data sources of their choosing", and drop the issue there. In 4 years I have included a flood map page probably twice, maybe three times, for properties "teetering on the brink" and as a measure of "Heh, I gave you the heads-up, it's your final call now". There has been a lot of active marketing in recent months and weeks for several flood database resources. It would seem to be, now at least, that the greater benefit of the nationwide coverage for any and all data goes to those lender/client types who are securing their own certifications behind the scenes and prior to bringing any financial transaction to closure. And, Dee Dee, what a good suggestioon that the entire flood data section of the 1004 be removed, and to also mention good timing for a few other subtle amendments to that form. But, perhaps more likely that the polar ice caps will melt and water inundate all the world's shorelines before any beneficial changes to some of our forms will occur.

 

[Dee Dee]

Ross,
You're welcome.
There are a couple of other areas that I would like to see removed from appraisal forms as well. Don't get me started :wink: .

 

[Charlotte Dixon]

What about Flood Insights???? I've got some info from them.

 

[Randy Beigh]

Charlotte

We are using Floodinsights and having good luck with it.

Both are probably ok. Pat's concern deals with the X and C codes. Seems to me, they are near interchangable terms.

We are online 24/7, so it is very easy to use this type of program. Just type in the address and up pops a map with an icon showing location, the map number, and the census tract number. It takes about 2 seconds to think about throwing the paper maps out with the trash.

 

[Roger]

Checked the status of my account today and was a bit suprised.

Seems there is often 2-3 choices of maps for a given address. I generally look at all three to see which appears to be the best. These are often on the edges of maps or the edge of an city, etc.

Seems that even though I only download one of the choices, my account is being charged for all three.

 

[Restrain]

Lenders have to get Flood Certs from a company that will guarantee the cert and have for years. I do not and will not certify that any flood data in my report is correct and put a disclaimer in the Condition of the Report to that effect. The liability is far too great. So, be cheap, get either a CD or the hard copy from FEMA and use those. Don't waste your money on any of these companies. Let the lenders spend their money on it - its their job.

 

[TC]

Roger,

I had the same thing happen to me. I e-mailed the company and they credited my account that day.

tc

 

[Michael_Combs]

Roger and TC,

InterFlood is not designed to charge your account for each map listed for a single property address. That is, if you type in an address and three maps are listed, your account is only charged one time. However, if you hit the back button from the page on which the maps are listed to go back to the location map page, InterFlood will charge your account again when you click 'List Flood Maps'. It may be the same address but since you can reposition the property on the location map the software charges your account again. You could actually move the property from Los Angeles to New York on the location map page. If you need to locate a flood map for a property you have already submitted you can go to the 'My Account' section and view you history list.

Michael Combs
InterFlood Product Manager
a la mode, inc.