It depends.
If the loan being restructured or modified meets the definition of a designated loan, the Act would apply to that loan. A designated loan is a loan secured by a building or mobile home that is located or is to be located in a Special Flood Hazard Area (SFHA) in which flood insurance is available under the Act. Additional flood insurance may be required if the lender increases the amount of the loan.
Refer to 42 USC 50 National Flood Insurance Act.