Borrower Notification Forms Sample Clauses

Borrower Notification Forms. On each Geotrac NFIP Compliance Packet Company will supply to Client a borrower notification form which complies with all federal statutory and regulatory requirements. B. ▇▇▇▇▇ ▇▇▇k Assessment in Non-Participating Non-Mapped Communities Company will prepare an appendix attached to the standard Geotrac NFIP Compliance Packet containing a flood risk assessment in NFIP non-participating non-mapped communities. C. HMDA Data Elements Company will supply HMDA State Code and County Code on all loans, and MSA Code and 1990 Census Tract on each loan where: a) 1990 Tracts are published, and b) the Federal Reserve indicates that Tract reporting is required. All HMDA data elements will be edited against government supplied information (i.e. Census Bureau's file of 1990 Census Tract and the Federal Reserve's list of State, County and MSA designations). In the event of an error Company's obligation shall be limited to correction of the error. D. GeoLife-of-Loan(R) For mortgage or trust deed loans Company will track both NFIP Community Status and FEMA Flood Map changes on a daily basis for the lifetime of the loan on Client's servicing system. Lists (hard copy or electronic) of loans affected will be generated monthly. From the supplied lists Client will inform Company of loans still active and Company will generate new Flood Determinations or other reports as needed. If NFIP Community Status changes affect the required flood insurance amount of a loan, Company will notify Client of the need to require changed amounts. GeoLife-of-Loan(R) service is available for transfer at no additional charge should Client sell or transfer the loan or servicing. Client is obligated to inform Company of the sale or transfer and if GeoLife-of-Loan(R) service is to transfer with the loan(s). In addition, Client shall supply Company a listing of affected loans, identified by loan number or another mutually agreeable item, in a mutually agreeable format on a media acceptable to both parties.

Borrower Notification Forms. On each Geotrac NFIP Compliance Packet Company will supply to Client a borrower notification form, on or before date of Client closing or purchasing a loan subject to all other terms of this agreement. Notification form will be in compliance with all federal statutory and regulatory requirements including FEMA, OTS, Fred▇▇▇ ▇▇▇, Fann▇▇ ▇▇▇, ▇▇d Ginn▇▇ ▇▇▇ ▇▇▇arding notifying borrowers. B. F▇▇▇▇ ▇▇▇K ASSESSMENT IN NON-PARTICIPATING NON-MAPPED COMMUNITIES Company will prepare an appendix attached to the standard Geotrac NFIP Compliance Packet containing a flood risk assessment in NFIP non-participating non-mapped communities, as requested by Client Cost set forth in Addendum "A" as Determinations in Non-Mapped Communities. C. HMDA DATA ELEMENTS Company at request of Client will supply HMDA State Code and County Code on some or all loan requests, with or without flood order, and MSA Code and 1990 Census Tract on each loan where: a) 1990 Tracts are published, and b) the Federal Reserve indicates that Tract reporting is required. All HMDA data elements will be edited against government supplied information (i.e. Census Bureau's file of 1990 Census Tract and the Federal Reserve's list of State, County and MSA designations). In the event of an error Company's obligation shall be limited to correction of the error. Client is under no obligation to order HMDA. This paragraph shall not limit Company's liability as otherwise provided in the is Agreement for incorrect flood determinations.