What if the borrower believes that the map is wrong based upon the propertys elevation?
Occasionally, the FIRMs will show the improvements on the property to be within the Special Flood Hazard Area when the propertys elevation is actually above the floodplain elevation. In these situations, the flood insurance requirement applies unless or until FEMA changes the propertys flood zone through a map amendment or map revision. If the property owner believes that the natural elevation of the land around the structure is above the floodplain elevation, then the property owner should consider applying for a Letter of Map Amendment (LOMA). Through this process, FEMA reviews technical data to determine if flood insurance should be required. If FEMA determines that the structure is above the floodplain elevation, then a LOMA-Removal will be issued by FEMA, and the federal flood insurance requirement will not apply. If the lender drops the flood insurance requirement, then the current flood insurance policy can be cancelled and a refund obtained.
