Freddie Mac: Here are the top 5 improving metro markets for housing

The Census Bureau is cooking the new home sales numbers

You can’t make bricks with imaginary straw

The 12 hottest housing markets right now

And the biggest losers in the price growth race
W S
Lending / The Ticker

Flood insurance fight turns into never-ending story

/ Print / Reprints /
| Share More
/ Text Size+

Lawmakers and advocacy groups continue to nudge Congress about the importance of passing another five-year extension to the National Flood Insurance Program, or NFIP.

The program, which offers homeowners in flood-prone areas affordable flood insurance, is set to expire on May 31 unless Congress passes another temporary or permanent extension.

U.S. Senators David Vitter (R-La.) and John Tester (D.-Mont.) held a hearing on the topic for the economic policy subcommittee of the Senate Banking Committee last week. The two lawmakers asked for another five-year reauthorization of the flood insurance program.

Sen. Vitter authored and obtained passage of a bill in 2011 that moved the deadline for the sunset of the program to May 31. However, Vitter's intention is to get a longer extension approved that will last through the latter part of this decade.

Vitter's office says the flood insurance program has been operating under a series of 13 extensions since 2004, which is the last time it passed Congress with a full reauthorization.

kpanchuk@housingwire.com

Recent Articles by HousingWire Staff

Comments powered by Disqus