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Flood Hazard Compliance Services
Fast, accurate, and compliant flood zone determination and life-of-loan monitoring services at the lowest price possible.
Chronos Solutions provides the most accurate and efficient flood hazard compliance services available today, and does it at the lowest possible price.
Offered since 1986 by recently acquired UPF Services, Chronos Solutions’ flood hazard compliance services are available nationwide, investor approved and backed by unrivalled industry experience. A National Flood Determination Association (NFDA) member company and certified vendor, Chronos Solutions adheres to the highest industry standards for accuracy, quality control, disaster recovery and financial viability.
Chronos Solutions leverages a complete set of digital FEMA flood maps in conjunction with the most accurate and comprehensive national GIS coverage available to deliver unsurpassed automated hit rates, completing up to 88 percent of determinations in just seconds. Manual determinations are typically completed within hours as well, ensuring that your loan closings remain on track.
Our extensive database is continuously updated to reflect all FEMA flood map changes, including LOMAs and LOMRs, so you can rest assured that the flood hazard status of the properties in your portfolio are current. For extra peace of mind, our Flood Hazard Compliance services are backed by a comprehensive Errors and Omissions insurance policy, protecting you and your borrowers from flood-related risk.
Services Include –
Basic Flood Zone Determination (FZD) is guaranteed to provide the required FEMA flood map panel, zone and community participation status information at the time of determination.
Life-of-Loan Flood Zone Determination extends the basic FZD for the term of the loan, maintaining compliance with federal regulations and secondary market guidelines by applying changes discovered through our continual monitoring of FEMA flood map revisions and community participation status changes. Accepted by most investors, Chronos Solutions’ Life-of-Loan FZDs are transferable between servicers and remain in effect until loan pay-off.
Portfolio Reviews and Transfers are performed upon request and include an initial flood zone determination for each loan in the servicer or investor’s existing portfolio and then tracked for any flood map revisions for the life of the loan. Standard Flood Hazard Determination Forms are issued for properties that are located in a Special Flood Hazard Area.
Refinance Related Loan Determination provides our current flood customers with a quick, cost-effective option when refinancing an existing loan that has a Chronos Solutions (or UPF Services) flood zone determination. Simply provide us with the loan identification number and we will cancel the existing determination, produce a new determination and monitor it for future flood map revisions for the life of the loan. In all other respects, the refinance loan determination is identical to our standard life-of-loan determination.
Home Mortgage Disclosure Act (HMDA) and Community Reinvestment Act require compliance with specific census tract data, which is made available within any of our flood hazard compliance products and services.
Chronos Solutions’ Flood Hazard Compliance services are available via multiple online order and delivery platforms, including our own UPF Services and Funding Suite platforms, Calyx and EllieMae® Encompass® loan origination systems and RealEC. Services may also be ordered via EDI connection using MISMO or Standard XML connection.
Chronos Solutions' Flood Hazard Compliance Services are the most reliable and cost-effective on the market today. And, with our complete suite of loan origination services, including instant tax, credit reports, verification services, valuations and HOA services, as well as comprehensive Title and Closing services through Chronos Title Solutions, you can receive every service listed on the HUD-1 from a single service provider.