OMB control number
Loans in Areas Having Special Flood Hazards
OMB 1557-0326 · TREAS/OCC.
The National Flood Insurance Act of 1968 (1968 Act) and the Flood Disaster Protection Act of 1973 (FDPA), as amended, (collectively referenced herein as the Federal flood insurance statutes) govern the National Flood Insurance Program (NFIP). These laws make Federally subsidized flood insurance available to owners of improved real estate or mobile homes located in participating communities and require the purchase of flood insurance in connection with a loan made by a regulated lending institution when the loan is secured by improved real estate or a mobile home located in a special flood hazard area (SFHA) in which flood insurance is available under the NFIP. The laws specify the amount of insurance that must be purchased and also require that such insurance be maintained for the term of the loan. (The requirement for flood insurance, and the term and amounts of such coverage, are hereinafter described as “the flood insurance purchase requirement). The OCC, Board, FDIC, FCA, and NCUA (collectively, the Agencies) each have issued regulations implementing these statutory requirements for the lending institutions they supervise. Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act) amends the Federal flood insurance statutes that the Agencies have authority to implement and enforce. Among other things, the Biggert-Waters Act: (1) requires the Agencies to issue a rule regarding the escrow of premiums and fees for flood insurance; (2) clarifies the requirement to force place insurance; and (3) requires the Agencies to issue a rule to direct regulated lending institutions to accept “private flood insurance,” as defined by the Biggert-Waters Act, and to notify borrowers of the availability of private flood insurance.
The latest form for Loans in Areas Having Special Flood Hazards expires 2029-01-31 and can be found here.
Document Name |
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Supplementary Document |
Supporting Statement A |
Supplementary Document |
Supplementary Document |
1557-0326 30-Day FR Notice for Flood Insurance_Part 22 (90 FR 35757).pdf
1557-0326 Supporting Statement for Flood Insurance_Part 22 (FINAL).docx
Recordkeeping | Extension without change of a currently approved collection | 2025-07-29 | ||
|
Approved without change |
No material or nonsubstantive change to a currently approved collection | 2022-08-03 | |
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Approved without change |
Extension without change of a currently approved collection | 2022-05-13 | |
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Approved without change |
Revision of a currently approved collection | 2019-02-20 | |
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Approved without change |
Extension without change of a currently approved collection | 2018-06-27 | |
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Comment filed on proposed rule and continue |
Revision of a currently approved collection | 2016-11-07 | |
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Approved without change |
New collection (Request for a new OMB Control Number) | 2015-07-30 | |
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Comment filed on proposed rule |
New collection (Request for a new OMB Control Number) | 2014-10-30 |
Disclosures
Federal Enterprise Architecture: Economic Development - Financial Sector Oversight