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Comment

  

From: Ken Mathis
Sent: Monday, March 08, 2004 11:15 AM
To: regs.comments@federalreserve.gov; Comments; regs.comments@occ.treas.gov; regs.comments@ots.treas.gov
Subject: EGRPRA

RE: Flood Areas, 12 CFR Part 339

I would like to see this regulation changed to consider the value of the land first and the value of any attachments second. If the value of the land, considering the normal 20% equity position, is sufficient to cover the loan balance, then the value of any attachments is not important. It is wrong to require a borrower to purchase flood insurance for a structure that is not even considered for support of loan repayment.

Thank you,
Kenrick Mathis, Pres.
Texico State Bank


 
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