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Fortunately the Federal Emergency Management Agency (FEMA), with some arm-twisting from the mortgage lending industry and Congress, has backed off on its position of not allowing the operations of the National Flood Insurance Program (NFIP) to resume during the government shut down. The change is retroactive to December 21, 2018, the date Congress provided last minute funding for the NFIP. With the NFIP funding crisis resolved until May 31, 2019, hopefully Congress can shift their […]

We reported on December 23rd that the President had signed legislation extending the National Flood Insurance Program (NFIP) until May 31, 2019. The Congress and the President did their part,  but then the Federal Emergency Management Agency (FEMA) ruled on December 27th that the NFIP cannot be renewed during the ongoing government shutdown. Now the industry is protesting FEMA’s ruling, saying that it conflicts with the will of Congress expressed in the bill signed into […]

Just before the National Flood Insurance Program (NFIP) expired on December 21, 2018 Congress passed and the President signed a resolution continuing the NFIP until May 31, 2019. Prior articles on this topic: Flood Insurance – congress Continues to Play Games https://mycomplianceresource.com/flood-insurance-congress-continues-to-play-games/ National Flood Insurance Program Still Hanging on a Thread https://mycomplianceresource.com/flood-insurance-update/ Flood Insurance Update https://mycomplianceresource.com/flood-insurance-update/

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.

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, […]