Case Study

Residential

Lender Mandate Lifted for Homeowner in Minnesota

Afton, MN

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A-Zone LOMA Success

NFE Solution: LOMA; Modeling Services

A single-family homeowner in Afton, MN, reached out to NFE to explore potential cost-saving scenarios for their home and detached garage located in a complex A-Zone.

NFE got to work immediately to provide a comprehensive solution to the Client's challenges. First, NFE gathered the relevant documents and performed the complimentary desktop engineering review. Due to the complex and understudied nature of A-Zones, modeling was required to confirm area data. The desktop review coupled with the modeling services qualified the Client's home and garage for removal from the Special Flood Hazard Area (SFHA) via a Letter of Map Amendment (LOMA). Next, the NFE team prepared an airtight case and submitted it to the Federal Emergency Management Agency (FEMA) for approval.

The LOMA was approved thanks to NFE's efforts, removing the home and garage from the high-hazard flood zone and eliminating the lender requirement for flood insurance.

With the LOMA in hand, the Client's lender released the mandate for flood insurance on the property. With the lender mandates out of the picture, the Client was able to modify or cancel their flood insurance policy as they wished.

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NFE successfully removed a multifamily property in Toms River from the Special Flood Hazard Area (SFHA). A Flood Expert Survey (FES) qualified all 5 buildings for a Letter of Map Amendment (LOMA). These solutions elimated$15,000 in annual insurance costs and added a remarkable $250,000 in property value.

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LOMA Achieved for Homeowner

Lender Mandate Lifted for Homeowner in Maine - Kittery, ME

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NJ & NY Multifamily Properties Save $105K+ - Multiple, NY

In this case study, a New Jersey-based Commercial Real Estate Developer partnered with National Flood Experts (NFE) to reduce annual flood premiums and increase the property value of their multifamily properties in NJ & NY. NFE successfully removed flood insurance mandates from 15 buildings, resulting in approximately $105,000 in annual cost savings and over $17.5 million in increased property value.