This article was previously published in "MBA Insights" on May 17, 2017.

With the impending expiration of the National Flood Insurance Program and potential changes to flood policy, it is timely for lenders and servicers to strengthen their due diligence processes.  In this article, A&M’s Janice DiMaria discusses the basic elements and underlying complexities facing lenders along with recommended practices that promote sustainable adherence to regulatory requirements.

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How A&M Financial Industry Advisory Services Can Help

With the depth and breadth of our Financial Industry Advisory Services team and expertise in FDPA, we can provide your organization with sound guidance and the results needed to ensure sustainable compliance. 

The following is a sample of our service offerings in this area:

• Perform institution wide gap assessment
• Identify compliance and operational risks and provide recommendations to mitigate risks and enhance processes.   
• Perform policy development and procedure review
• Evaluate governance and control processes
• Ensure adequate levels of defenses are in place including quality assurance and control processes and those involving third party providers
• Perform file reviews, lookback and remediation activities
• Perform quality review test scripting development and training