Earlier today the President signed House Joint Resolution 143 that extends the National Flood Insurance Program through December 21, 2018. We will continue to watch Congress. We expect Congress to continue to “kick the can down the road.” rather than take meaning action to fix the problems in the Program.
Category: Flood Insurance
National Flood Insurance Program Still Hanging on a Thread
The following was originally drafted on December 4, 2018. As we reported last summer, Flood Insurance – Congress Continues to Play Games, the National Flood Insurance Program Extension Act extended the National Flood Insurance Program (NFIP) until November 30, 2018. This was the sixth short-term extension of the NFIP. The NFIP was originally set to expire on September 30, 2017. On September 8, 2017, Congress passed a short-term extension set to expire on December 8, […]
SPECIAL FLOOD HAZARD DETERMINATION FORM EXPIRES OCTOBER 31
The current version of the Special Flood Hazard Determination Form (SFHDF), FEMA Form 086-0-32 published on June 1, 2016, is set to expire on October 31, 2018. The SFHDF is required for all federally backed loans and is used by lenders to determine the flood risk for their building loans. FEMA (Federal Emergency Management Agency) oversees the National Flood Insurance Program (NFIP) and is responsible for updates to the SFHDF. As we near the expiration […]
FLOOD INSURANCE – CONGRESS CONTINUES TO PLAY GAMES
On July 31, 2018 President Trump signed S. 1182, the “National Flood Insurance Program Extension Act of 2018,” which reauthorizes the Federal Emergency Management Agency to enter into new contracts for flood insurance and borrow from the Treasury up to specified amounts through November 30, 2018. The House Amendment to S. 1182 extends the National Flood Insurance Program, which was set to expire July 31, 2018, through November 30, 2018. This amendment does not include […]
PROPOSED FEMA FLOOD REGULATIONS
On July 16, 2018 the Federal Emergency Management Agency (FEMA) proposed revisions to its flood regulations. FEMA proposes to amend parts 59, 61, and 62 of 44 CFR. These parts contain regulations implementing the NFIP. In addition, FEMA proposes to amend Appendices A(1) – A(3) of part 61, containing the three forms of the SFIP: The Dwelling Policy Form, the General Property Form, and the Residential Condominium Building Association Form. FEMA proposes this rulemaking for […]