Nov 18, 2020 2020-26
Sub-Servicer New Flood Determination Provider Requirement
MFA’s sub-servicer, Idaho Housing and Finance Associaiton (IHFA), recently announced they are transitioning their flood insurance management company to LERETA Flood Services (LERETA). MFA will transition to align with our sub-servicer’s requirement for flood insurance management.
Please be aware that all loans closed on December 14, 2020 and thereafter using a flood determination company other than Lereta will incur a $10 flood transfer fee. Loans submitted to Idaho Housing for purchase on behalf of MFA using LERETA for the flood determination will not incur a transfer fee.
Thank you for participating in MFA programs.