National Flood Insurance Program (NFIP) Reauthorization

The National Flood Insurance Program should receive a long-term reauthorized and be reformed to better address commercial and multifamily lending.

Overview: Flood insurance is mandatory for any property located in a high-risk area with a mortgage from a federally-backed or federally-regulated lender. A long-term 7-10 years authorization of the NFIP is vital to provide needed certainty to homeowners and small businesses that depend on the program for flood damage protection, to protect our residential and commercial real estate markets and to provide stability for the companies and agents that sell and administer the NFIP policies to millions of consumers across the country. In order to ensure a stable, affordable and sustainable flood insurance market, a private market for flood insurance must be allowed and encouraged to develop. The National Flood Insurance Program should receive a long-term reauthorized and be reformed to better address commercial and multifamily lending.

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Recent MBA Activity Related to NFIP Reauthorization

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