FEES FOR DETERMINING APPLICABILITY OF FLOOD INSURANCE PURCHASE REQUIREMENTS.

SEC. 526. FEES FOR DETERMINING APPLICABILITY OF FLOOD INSURANCE PURCHASE REQUIREMENTS. Section 102 of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a) as amended by the preceding provisions of this title, is further amended by adding at the end the following new subsection: “(h) Fee for Determining Location.— Notwithstanding any other Federal or State law, any person who makes a loan secured by improved real estate or a mobile home or any servicer for such a loan may charge a reasonable fee for the costs of determining whether the building or mobile home securing the loan is located in an area having special flood hazards, but only in accordance with the following requirements: “(1) Borrower fee.— The borrower under such a loan may be charged the fee, but only if the determination— “(A) is made pursuant to the making, increasing, extending, or renewing of the loan that is initiated by the borrower; “(B) is made pursuant to a revision or updating under section 1360(0 of the floodplain areas and flood-risk zones or publication of a notice or compendia under subsection 108 STAT. 2263(h) or (i) of section 1360 that affects the area in which the improved real estate or mobile home securing the loan is located or that, in the determination of the Director, may reasonably be considered to require a determination under this subsection; or “(C) results in the purchase of flood insurance coverage pursuant to the requirement under subsection (e)(2). “(2) Purchaser or transferee fee.— The purchaser or transferee of such a loan may be charged the fee in the case of sale or transfer of the loan.”.