TERMINATION OF FORCE-PLACED INSURANCE.

SEC. 100244. TERMINATION OF FORCE-PLACED INSURANCE. (a) In General.—Section 102(e) of the Flood Disaster Protection Act of 1973 (42 U.S.C. 4012a(e)) is amended— (1) in paragraph (2), by striking “purchasing the insurance” and inserting “purchasing the insurance, including premiums or fees incurred for coverage beginning on the date on which flood insurance coverage lapsed or did not provide a sufficient coverage amount”; (2) by redesignating paragraphs (3) and (4) as paragraphs (5) and (6), respectively; and (3) by inserting after paragraph (2) the following new paragraphs: “(3) Termination of force-placed insurance. Within 30 days of receipt by the lender or servicer of a confirmation of a borrower’s existing flood insurance coverage, the lender or servicer shall— “(A) terminate any insurance purchased by the lender or servicer under paragraph (2); and “(B) refund to the borrower all premiums paid by the borrower for any insurance purchased by the lender or servicer under paragraph (2) during any period during which the borrower’s flood insurance coverage and the insurance coverage purchased by the lender or servicer were each in effect, and any related fees charged to the borrower with respect to the insurance purchased by the lender or servicer during such period. “(4) Sufficiency of demonstration. For purposes of confirming a borrower’s existing flood insurance coverage, a lender or servicer for a loan shall accept from the borrower an insurance policy declarations page that includes the existing flood insurance policy number and the identity of, and contact information for, the insurance company or agent.” .