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16 <br />1 <br />"SEC. 1861. NOTICE REQLTnWAMNTS. <br />2 <br />"(a) LENDING INSTITUTIONS.—Each Federal entity <br />3 <br />for lending regulation, after consultation and coordination <br />4 <br />with the Federal Financial Institutions Examination <br />5 <br />Council, shall by regulation require that before a regulated <br />6 <br />lending institution makes, increases, extends, or renews a <br />7 <br />loan secured by improved real estate or a manufactured <br />8 <br />home located in an area that has been identified by the <br />9 <br />Director as an area of special flood hazards, the institu- <br />10 <br />tion shall notify the borrower of the special flood hazards <br />11 <br />and of the need to purchase and maintain flood insurance. <br />12 <br />"(b) FEDERAL AGENCY LENDERS.—Before a Fed - <br />13 <br />eral agency lender makes, increases, extends, or renews <br />14 <br />a loan secured by improved real estate or a manufactured <br />15 <br />home located in an area that has been identified by the <br />16 <br />Director as an area of special flood hazards, the Federal <br />17 <br />agency lender shall notify the borrower of the special flood <br />18 <br />hazards and of the need to .purchase and maintain flood <br />19 <br />insurance. <br />20 <br />"(c) PARTICIPATING COMMUNITIES.—The Director <br />21 <br />shall by regulation require each participating community, <br />22 <br />upon receiving the semiannual list prepared by the Diree- <br />23 <br />for of all changes, revisions, and amendments made to the <br />24 <br />flood insurance rate maps during the preceding 6 months, <br />25 <br />to determine whether any properties in their community <br />26 <br />have been affected, and to provide annual notice by mail, <br />.s 14M IS " <br />