[tag=NN | tag=□]
[tag=NN | tag=VBZ]
[tag=NN | tag=NN]
Federally regulated or insured lending institutions are required in all cases to notify the borrower when the building being used to secure a loan is in a SFHA . In 2003 , when India celebrated its 50th anniversary of becoming a sovereign republic , then-Iranian president Mohammad Khatami was invited , which did not go down too well with several Western countries , including the US . The Act prohibits federal agencies , such as FHA , VA , and SBA , from making or guaranteeing a loan secured by a building in a SFHA unless flood insurance has been purchased . When title to a property is conveyed , any new or added flood insurance coverage on the property is effective when the title is transferred . Although FEMA may issue a LOMA it is the lending institution 's prerogative to require flood insurance as a condition of its own beyond the provisions of the Flood Disaster Protection Act of 1973 before granting a loan or mortgage . You may also be able to use the annuity as collateral for a bank loan . The Standard Flood Insurance Policy ( SFIP ) contains a complete definition of the coverage it provides . Three-year policies , which are written only by Write Your Own ( WYO ) companies , remain in force until the next annual anniversary date of the policy . A lending institution is not required by stature to make the borrower purchase flood insurance for more than the amount of the loan or for more than twice the amount of insurance available under the Emergency Program ( $ 35,000 times 2 = $ 70,000 ) , whichever is less . If the employer group health plan does not pay all the patient 's expenses , Medicare may pay the entire balance , may pay only a portion , or may pay nothing . When you stay within the network , you pay nothing except the plan premium and any small copayment amounts preset by the HMO . The NFIP 's definition of " basement " includes any part of a building where all sides of the floor are located below ground level .