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National Flood Determination Association

National Flood Determination Association. Member Survey Results 2006 - 2007. The NFDA Member Survey…. NFDA conducts an annual survey of Member Companies NFDA General Counsel prepares, distributes and compiles results to ensure data confidentiality

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National Flood Determination Association

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  1. National Flood Determination Association Member Survey Results 2006 - 2007

  2. The NFDA Member Survey… • NFDA conducts an annual survey of Member Companies • NFDA General Counsel prepares, distributes and compiles results to ensure data confidentiality • The 2006-2007 Survey was circulated to 16 NFDA Member Companies • 11 responses received for 2006 data; 12 responses received for 2007 data

  3. New Orders Completed… 20062007 Respondent Companies: 11 12 New Orders Completed for Lenders: 30,603,748 28,099,259 New Orders Completed for Others: 2,684,820 3,368,373 Total New Orders: 33,288,568 31,467,632

  4. Life of Loan Certificate Updates… 20062007 Respondent Companies: 10 11 Total Life of Loan Certificates Currently Tracking: 144,224,493 176,193,252 Respondent Companies: 9 10 Total Life of Loan Certificates Impacted by Map Revision (new FIRM + LOMC): 10,398,797 14,988,828 LOL Certificates that Experienced Status Change as a Result of Map Revision: 129,180 281,184

  5. Impact of Map Revisions on Flood Zone Determination Companies… 20062007 Sum of New Orders + LOL Revisions: 43,687,365 46,456,460 % FZD Volume Increase due to Life of Loan Certificate Revisions: +33.98% +47.63% Average % Increase per Company: +28.29% +36.15%

  6. Customer Service & Outreach… 20062007 Respondent Companies: 9 10 Total (non-sales) Customer Service Calls: 664,793 575,636 Respondent Companies: 8 9 Hours Spent Training Customers (average per company): 515 hrs 476 hrs Respondent Companies: 10 11 % of Orders Received with Invalid or Non-Standard Addresses (average): 9.42% 7.88%

  7. Investment in Technology & Training… 20062007 Respondent Companies: 11 12 % Orders Received via Electronic/ Automated Methodology (average): 91.43% 94.45% Respondent Companies: 10 11 Average Automated Hit Rate 79.81% 82.42% Respondent Companies: 8 9 Average Number of Hours Spent Training Map Technicians: 2211 hrs 2096 hrs

  8. Flood Zone Determination Liabilities… 20062007 Respondent Companies: 10 12 Average Number of Claims Paid: 7.5 6.3 Total Dollar Value of Claims Paid: $4,628,367.44 $2,188,482.31 Avg Dollar Value of Each Claim Paid: $55,763.46 $29,179.76

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