What is a “flood zone determination” as it relates to a mortgage?

Flood Zone Determination is a process used by lending institutions to meet their federal banking regulation requirements to make an evaluation of whether or not the structure they are processing for a loan is in the one percent chance flood hazard area. Lenders can do this evaluation themselves or, as most elect to do, hire such service provided by firms that make flood zone determinations their sole business.

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1. What is a “flood zone determination” as it relates to a mortgage?
2. What is the Flood Zone for Oconto County?
3. How do lenders find flood zone determination companies?
4. If a property owner disagrees with the lender’s determination that the property is in a floodplain, what can be done?
5. Are local officials liable for making flood zone determinations?
6. How do flood certification companies determine if the property lies within a flood zone?