Items Tagged with 'NFIP'


  • Democrats, Republicans vote unanimously to pass flood insurance reforms

    NFIP 5-year extension skips divisive issues, requires modernization of the nation's flood maps
    In a rare show of unity, Democrats and Republicans on the Financial Services Committee of the U.S. House of Representatives voted unanimously to pass a five-year extension to the National Flood Insurance Program that includes a mandate to improve the nation’s flood maps. The bill provides $500 million a year over five years for updating maps and modernizing technology to identify high-risk zones.
    Read More
  • Congress approves a 4-month rescue of flood insurance program

    A lapse in NFIP would have nixed about 40,000 home sales a month, NAR says
    Congress passed a bill late Monday, two days after the start of the U.S. hurricane season, that extends the National Flood Insurance Program by four months. The move came on top of a stopgap vote on Thursday that kept the program from expiring over the weekend. FEMA estimates the need for flood insurance will expand by up to 45% by 2100 because of climate change.
    Read More
  • Congress passes two-week extension of National Flood Insurance Program

    A pending bill would extend the program through September
    Congress passed a stopgap bill on Thursday to extend the National Flood Insurance Program for two weeks, a last-minute rescue to a program that bolsters home values in coastal and low-lying real estate markets. If the program expired as scheduled at midnight, thousands of home transactions would have been knocked off-track.
    Read More
  • Lawmakers hit standstill on flood insurance reform

    Look to create bipartisan reform
    Both Democrats and Republicans agree the National Flood Insurance Program is in need of reform, however, they disagree on how to accomplish it. The House Financial Services Committee held a hearing Wednesday entitled Preparing for the Storm: Reauthorization of the National Flood Insurance Program, in order to discuss the issue and hear from experts in the subject.
    Read More
  • From HW Magazine

    HOT or NOT February: What is trending in housing right now?

    Government shutdowns are on the rise
    Government shutdowns are increasing - happened three times in 2018. But HELOCs are down. After soaring to a near 10-year high, HELOC originations took an unexpected tumble in the third quarter of 2018, falling 14% from the previous quarter and 11% from the year before.
    Read More
  • Happy holidays, the government is still shut down

    Here’s how the shutdown affects the housing market
    The government partially shut down after Congress and the president failed to pass a new funding bill Friday, and now, five days later, that shutdown continues. While about 75% of the government is already funded, this partial shutdown does limit part of the housing industry. Here’s what is affected.
    Read More
  • Congress funds government through December 21

    Passes yet another short-term NFIP
    Congress voted Thursday to fund the government through December 21, 2018, and in doing so extended the National Flood Insurance Program for two weeks. A government shutdown will most likely be avoided this week, but it will fall to Congress once again to keep the lights on just before Christmas.
    Read More