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With Expiration Looming, NAR, NAHB Applaud Flood Insurance Renewal Progress

Posted To: MND NewsWire

It remains to be seen if it passes into law, or how it will hold up during the process, but housing industry groups say an agreement has been hammered out for renewing the federal flood insurance program . Both the National Association of Home Builders (NAHB) and the National Association of Realtors® (NAR) say they have been working with the House Financial Services Committee on parameters, for, in the words of NAHB, “A viable, long-term flood insurance reauthorization bill that will keep the National Flood Insurance Program (NFIP) fiscally sound and enable home builders to provide safe and affordable housing to consumers.” A flood insurance policy is required of homeowners who live in certain Federal Emergency Management Agency (FEMA) designated flood plains and have a mortgage issued…(read more)

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Source: MortgageNewsDaily

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