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MORTGAGE
FLOOD PROGRAMS

Lender Placed Flood Insurance Program

Tri-Arc offers a Lender Placed Flood Insurance Program to protect a Lender's interest in the event a Borrower has failed to maintain flood insurance. Securing and maintaining Flood Insurance for properties located in a Special Flood Hazard Area (SFHA) is critical for lender Compliance with Federal Flood Insurance Regulations.

Our Flood Insurance Program provides Guaranteed Issue Flood Protection of $500,000 for Residential Property and $1,000,000 for Commercial Property, wherever and whenever coverage is needed. This policy extends to Manufactured Housing, Business Property, Condominium Units and Condominium Buildings. Tri-Arc's Flood Insurance Program gives the lender immediate coverage for your loan and the option of an automatic coverage endorsement. Our program may be written on either a dual interest (total insurable value) or single interest (loan balance) basis.

Our key flood insurance protection features include:

  • Non-Participating and Suspended Community Coverage
  • Standalone Business Property Coverage
  • Flood Insurance Deficiency Protection
  • Increased Cost of Compliance
  • Condominium Unit Protection

In certain states, we can offer the Lender expanded coverage to include Contingent Mortgagor's Coverage which offers a limited form of "Homeowners Protection". Tri-Arc can customize a Force Placed Fire Insurance Program to meet any Lender's specific coverage needs.