The National Flood Insurance Program (NFIP) is set to expire on July 31, 2018. It is essential that the program is reauthorized before the deadline or sales of homes across the nation will face delays or cancellations. It is critical to apply pressure to ensure all members of Congress know that the reauthorization of the NFIP is an urgent priority for the customers and communities served by real estate finance industry professionals throughout the country.
MBA continues to advocate for legislation that provides: a long-term reauthorization of the NFIP (preferably five years); an exemption for commercial and multifamily properties from the program's mandatory purchase requirements; and, the development of a more robust private flood insurance market. It is imperative that Congress act swiftly to pass an extension and avoid a lapse in the program.
Click the button below to take action and tell your Senators/Representative to address the NFIP immediately and pass an extension to reauthorize the program before its July 31 deadline while Congress continues to work on a long-term solution.
Senior Vice President of Legislative and Political Affairs
Mortgage Bankers Association