The issuance of a LOMA or LOMR-F eliminates the federal flood insurance purchase requirement as a condition of federal or federally backed financing; however, the credit union still can require flood insurance as a condition of providing financing, regardless of the location of a structure. The purchase of a flood insurance policy may be wise even if a structure is located outside the SFHA.
FEMA: Letter of Map Amendment (LOMA) and Letter of Map Revision-Based on Fill (LOMR-F) Process
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