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| News and Updates |
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2007 Flood Insurance Guidelines call
for New Borrower Notifications
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If you already subscribe to SRG's borrower notifications, you’ll notice FEMA has
recently made several changes to the standard template. In addition to the
notification being required for use when a subject is "within a participating
community and SFHA", FEMA now requires use of a new second notification form.
This new borrower notification form is for use in situations concerning flooded
subjects within "mapped, yet nonparticipating communities".
Another change comes in the way of recording acknowledgements. Since closing at
the title company encompasses all relative parties, FEMA now only requires one
signature on the new forms. Also, since no OMB number officially exists for these
new forms, we mirrored the exact form(s) which were effective October 1, 2007 as
per the 2007 Mandatory Flood Insurance Guidelines Manual, pages 4-5 and 4-7 in
Appendix 4. - Notice Requirements.
If you or others have additional questions please feel free to contact us at your
earliest convenience.
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OMB NO, 3067-0264 Expires October 31, 2008
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The new OMB number (1660-0040) and expiration date (October 31, 2008) assures
we are using the most up-to-date Standard Flood Hazard Determination Form
(SFHDF), and has no bearing on the Life Of Loan monitoring period. SRG was
among the first in the industry to implement the newly issued form. Further
information can found at the following web page
http://www.fema.gov/business/nfip/sfhdform.shtm.
The Office of Management and Budget (OMB) is an executive office of the
President of the United States. One of its roles is to help improve
administrative management- such as the standardization of government forms etc.
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Credit Report Services are now offered by SRG.
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Ever wish you could accomplish more with less time and effort? Now you can.
Because we value each and every partner, we've invested in creating technology
solutions that enable for greater processing efficiencies. So if multitasking
through the system you already use is of interest, give us a call and let us
show you how to squeeze more time out of each business day.
Don't have time for a quick call?
Request more info by email. . .
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SRG Joins the EPA Green Power Partnership Program
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Stormwater Research Group is pleased to announce that the United States
Environmental Protection Agency is recognizing our efforts as a Partner in
their Green Power Partnership. This Partnership seeks to reduce the
environmental damage caused by harmful emissions associated with conventional
electricity generation in the United States - the nation's largest industrial
source of air pollution. This partnership works by encouraging and recruiting
companies to switch a percentage of their electricity to green power. Green
power is electricity that is generated from renewable resources, such as solar
and wind. For more information, please visit
http://www.epa.gov/greenpower.
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HMDA Reporting Update!
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Effective 4/1/04, for your protection SRG will only provide 2004 MSA/MD
assignments along with State, County, and Tract numbers. To ensure absolute
compliance within your CRA reporting process, SRG will no longer provide
pre-2004 MSA assignments for use with 2003 and earlier reports.
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