“Letter of Map Amendment (LOMA) – Zone A/AE”
The mortgage company is requiring Flood Insurance on your property, and because you did not believe it necessary, you hired a professional surveyor to complete an Elevation certificate. The results are in and they show the Lowest Adjacent Grade (LAG) is higher than the Base Flood Elevation (BFE). Proof that the 1% chance flood event can’t reach your house! You submit the signed and sealed certificate to the institution lending you the money certain that they will see the error of their ways and automatically refund your premiums, offer a sincere apology for doubting you, and walk away with their tail between their legs.
But that is not what happens. Depending on the corporate policy the lending institution will more than likely look at the Certificate and say, “that’s great now go get a LOMA”. What does that mean?
The Letter of Map Amendment (Removal) is the official recognition, delivered by the Federal Emergency Management Agency (FEMA) that deems the set of circumstances summarized on the Elevation Certificate does indeed describe the structure as above the Special Flood Hazard Area (SFHA) and therefore can be considered a candidate for removal from the flood insurance requirement.
You can complete the application for a Letter of Map Amendment (LOMA) yourself, or you can hire a professional to do it for you. When completing the application yourself, it takes time and can be somewhat confusing. Therefore, it takes patience and perseverance. The form can be found by searching for “FEMA online Letter of Map Amendment” or going to: https://hazards.fema.gov/femaportal/onlinelomc/signin
There are plenty of directions on the website and an email address to send questions to. Remember, BE PATIENT. After the application is submitted you may have to wait 60 days for FEMA to render their findings.
Many homeowners decide to ask the professional that provided Elevation Certificate to complete the LOMA application. Most surveyors and some engineers have helped other clients and will know what you are requesting. If you have hired a reputable firm they should be able to quickly package the necessary documents and fill out the required forms on line. They may also have, like we do here at BMJ, someone who is registered with FEMA and can complete what is called an eLOMA. The information that is submitted is still the same, but because the professional is registered, the determination can be fast tracked. Sometimes the wait time is less than an hour!
The main take away from the past few installments is that if there is a flood insurance requirement imposed by your lender it does not mean that it is unquestionable. The onus is on the homeowner to prove the FEMA wrong. In Michigan, it is worth the investment to make sure the flood insurance premiums are necessary. BMJ has been helping folks with Elevation Certificates since the program started in the early 1980s. If you find yourself in this situation give us a call for a free quote and consultation. You will be glad you did.
