Sec. 100209. ESCROW OF FLOOD INSURANCE PAYMENTS
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## SEC. 100209 ESCROW OF FLOOD INSURANCE PAYMENTS ###
(a)In General Paragraph
(1)of section 102(d) of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a(d)) is amended to read as follows: > > #### “(1) Regulated lending institutions > > > ##### “(A) Federal entities responsible for lending regulations > > Each Federal entity for lending regulation (after consultation and coordination with the Federal Financial Institutions Examination Council) shall, by regulation, direct that all premiums and fees for flood insurance under the National Flood Insurance Act of 1968, for improved real estate or a mobile home, shall be paid to the regulated lending institution or servicer for any loan secured by the improved real estate or mobile home, with the same frequency as payments on the loan are made, for the duration of the loan. Except as provided in subparagraph (C), upon receipt of any premiums or fees, the regulated lending institution or servicer shall deposit such premiums and fees in an escrow account on behalf of the borrower. Upon receipt of a notice from the Administrator or the provider of the flood insurance that insurance premiums are due, the premiums deposited in the escrow account shall be paid to the provider of the flood insurance. > > > ##### “(B) Limitation > > Except as may be required under applicable State law, a Federal entity for lending regulation may not direct or require a regulated lending institution to deposit premiums or fees for flood insurance under the National Flood Insurance Act of 1968 in an escrow account on behalf of a borrower under subparagraph
(A)or (B), if— > > > ###### “(i) > > the regulated lending institution has total assets of less than $1,000,000,000; and > > > ###### “(ii) > > on or before the date of enactment of the Biggert-Waters Flood Insurance Reform Act of 2012, the regulated lending institution— > > > ###### “(I) > > in the case of a loan secured by residential improved real estate or a mobile home, was not required under Federal or State law to deposit taxes, insurance premiums, fees, or any other charges in an escrow account for the entire term of the loan; and > > > ###### “(II) > > did not have a policy of consistently and uniformly requiring the deposit of taxes, insurance premiums, fees, or any other charges in an escrow account for loans secured by residential improved real estate or a mobile home.” > . **[**Subsection
(b)was repealed by section 25(b)(2) of Public Law 113–89.**]**
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