MBA Statement on Extension of National Flood Insurance Program
|Rob Van Raaphorst|
|(202) 557- 2727|
WASHINGTON, D.C. (July 31, 2018) - David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association (MBA), released the following statement praising Congress for passing a four month extension of the National Flood Insurance Program (NFIP):
"I want to commend Congress for passing this short-term extension of the NFIP. This will protect residential and commercial real estate markets from potential harm, and provide stability for those that sell and administer the policies to millions of Americans. MBA now calls on Congress to negotiate a long-term reauthorization of the NFIP which provides certainty and protections for consumers, expands the private flood insurance market, and exempts commercial/multifamily properties from NFIP mandatory purchase requirements."