LOMA
A 60 building property just outside of Baltimore, MD, saved $48,000 in flood insurance premiums after our engineering review qualified 11 buildings for removal from the flood zone, removing the lender mandate for flood insurance.
On a rushed timeline due to an upcoming sale, NFE's flood experts helped the nation's largest multi-family property owner save ≈$22K in annual flood insurance premiums while also adding $365K in property value for a 29-building property in Coral Springs, FL. NFE’s field work and engineering review maximized cost savings and helped the current and future owners avoid costly premium hikes on the horizon.
In Tucson, AZ, a client had $5,500 per year in flood insurance expenses on two apartment buildings in the AE flood zone. SPOILER ALERT: Not anymore.
Our team flew up to the Windy City, gathered pertinent site-specific data, and successfully petitioned FEMA for a Letter of Map Amendment (LOMA). With the LOMA in hand, the lender mandates were removed, and the client dodged a $75k/year bullet!