Solution Value: Over $53K in Lender Mandated Flood Insurance Premiums Removed
NFE Solution: LOMA (Letter of Map Amendment)
A Hotel portfolio with locations across the US saved more than $53K in flood insurance premiums adding ≈ $670K in property value (assuming an 8% CAP rate). A HUGE win for the client!
NFE reviewed 22 hotels in the client’s portfolio across the country and was successful in qualifying 15 hotels for a LOMA. These solutions resulted in the removal of lender mandates for flood insurance for these properties. These solutions boosted the value of the portfolio significantly and dramatically reduced annual flood premiums by the thousands.