MBA's Broeksmit Statement About FEMA Decision on NFIP
|Rob Van Raaphorst|
|(202) 557- 2799|
WASHINGTON, D.C. (December 27, 2018) - Robert D. Broeksmit, CMB, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement today on the decision by the Federal Emergency Management Agency (FEMA) not to approve or renew flood insurance policies under the National Flood Insurance Program (NFIP) during the current government shutdown.
"I respectfully ask officials at FEMA to reconsider their decision not to issue new NFIP policies or renew existing policies during the current shutdown. We have heard concerns from some MBA members that the inability to secure the required flood insurance may jeopardize loan closings. FEMA should reverse its decision. The longer this shutdown goes on, the more disruptive this decision will be."