Flood disaster protection

This page provides links to information to help Farm Credit System lenders understand rules on flood insurance.

By law, lenders must not make, increase, extend, or renew loans that are secured either by improved real estate or a mobile home if (a) the property is not covered by flood insurance and (b) the property is located in a community that participates in the National Flood Insurance Program.

Regulations and guidance

FCA, along with five other agencies (Office of the Comptroller of the Currency, Federal Reserve System, Federal Deposit Insurance Corporation, Office of Thrift Supervision, and National Credit Union Administration), issued a joint final rule (Word) to govern loans in areas having special flood hazards. This rule was published in the Federal Register on July 21, 2015.

For further guidance, see FAQs about flood insurance on our website.

News related to flood protection

• Limited suspension of enforcement actions relating to private flood insurance (PDF) (informational memorandum)
• Interagency statement on the impact of Biggert-Waters Act (PDF) (informational memorandum)
• The Federal Emergency Management Agency has revised its Standard Flood Hazard Determination form and changed the form number from 81-93 to 086-0-32. For more information, see the October 10, 2012, FEMA memorandum (PDF).

Statutes

The National Flood Insurance Program is administered under the following legislation:

• National Flood Insurance Act of 1968 and Flood Insurance Protection Act of 1973 (PDF)
• National Flood Insurance Reform Act of 1994 (PDF)

Contact information

For more information, please contact Paul Gibbs, senior accountant in the Office of Regulatory Policy, at [email protected].