With Hurricane Harvey rapidly making its way toward the Texas coast, lenders and servicers have activated business continuity plans to accommodate pending transactions and provide options and support to existing borrowers affected by the storm.
House Financial Services Committee leaders and two top real estate trade groups have cut a deal on a bill to reform the National Flood Insurance Program.
The National Association of Home Builders is objecting to a measure that would impose a surcharge on National Flood Insurance Program policies for newly constructed homes.
The House Financial Services Committee is slated to vote on several bills Wednesday that are designed to make private flood insurance a viable alternative to the National Flood Insurance Program.
The Trump administration's decision to slash all funding for the flood mapping and loss mitigation efforts in flood prone communities is getting push back from supporters of better management policies.
Sen. Mike Rounds, R-S.D., suggested Tuesday that the National Flood Insurance Program should boost its insurance coverage to $427,000 in an effort to put it on sounder fiscal footing.
