Mortgage lenders are required to accept private flood insurance when the policy meets the statutory definition of “private flood insurance” under federal law. NCIP private flood insurance available through CATcoverage.com meets these federal requirements and is recognized as lender-accepted coverage. In practice, lenders often review flood policies to confirm they meet federal standards established by agencies such as FEMA and the National Flood Insurance Program (NFIP). This review helps…
Do Mortgage Lenders Accept Private Flood Insurance?
