Pub. 5 2014 Issue 1

www.wvbankers.org 12 West Virginia Banker F EMA (Federal Emergency Manage- ment Agency) uses the most accurate flood hazard information available; however, limitations of scale or topograph- ic definition of the source maps used to prepare the FIRM (Flood Insurance Rate Map) may cause small areas that are at or above the flood elevation to be inadver- tently shown within the SFHA (Special Flood Hazard Area) boundaries. Addi- tionally, the placement of fill may elevate small areas to an elevation at or above the flood elevation. When this happens, structures or parcels of land may be inad- vertently included within the SFHA on the flood map. In these instances, the property owner or lessee may apply for a LOMA. LOMAs are documents issued by FEMA that offi- cially remove a property and/or structure from the SFHA. To obtain a LOMA, the applicant must submit mapping and survey data for the property, much of which is available from the municipality where the property is located (e.g., City Hall, County Courthouse). In most cases, the applicant would need to hire a land surveyor to prepare an Elevation Certif- icate for the property. Upon receiving a complete application, FEMA normally completes its review in 4-6 weeks. Letter of Map Amendment (LOMA) Process By Laura E. Hosler To issue a LOMA and remove the struc- ture from the SFHA, NFIP (National Flood Insurance Program) regulations require that the lowest adjacent grade (the lowest ground touching the structure) be at or above the 1% annual chance flood ele- vation. To remove the entire lot, the lowest point on the lot must be at or above the 1% annual chance flood elevation. There is no fee for FEMA’s review of a LOMA request but the requester must provide all the required information. Submit the following with a LOMA/eLOMA application: 1. Copy of a recorded Plat Map or recorded deed for the property and a copy of the local tax assessor’s map of the neighborhood (or map that shows property lines, local roads and watercourses). 2. Elevation Certificate (EC) or other certified elevation survey. A LOMA/eLOMA eliminates the Federal Flood Insurance Requirement as a condi- tion of federal or federally backed financ- ing; however, the mortgage lender retains the prerogative to require flood insurance as a condition of the loan, regardless of the location of the structure. eLOMA PROCEDURE for Ser- viceLink National Flood (for- merly LPS National Flood) clients: • Client provides EC, recorded deed with the recordation stamp and re- quest for eLOMA to the Dispute de- partment via email: flood.disputes@ lpsvcs.com or fax: (866) 743-1773 • ServiceLink eLOMA specialist enters the mandatory information into the eLOMA tool • ServiceLink returns the results to the client upon receipt from FEMA EXPECTED TURN TIME ServiceLink will return the final eLOMA results within 10 business days from receipt of the request. This turn time includes 5 business days if FEMA selects to audit the file. To learn more about ServiceLink flood certification services, please contact ServiceLink National Flood at 800-833-6347 (Option 4) or email us at floodinfo@lpsvcs.com. n (Originally published in The Guardian 2014 Edition Number 1 by WNC Insurance Services, Inc. Reprint- ed with permission from WNC Insurance Services, Inc. and ServiceLink National Flood.)