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#1396981 - 05/27/10 01:57 PM flood - will it be extended?
Burgess Offline
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I think flood is part of the other economic provisions referred to in the article below. they have today or tommorow to pass it otherwise they are on a 10 day vacation.

http://www.washingtonpost.com/wp-dyn/con...src=nl_headline
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#1397854 - 05/28/10 07:12 PM Re: flood - will it be extended? Burgess
Queen Mum Offline
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OK
Does anyone know if Flood expiration date has been extended or are they on their 10-day vacation??

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#1397909 - 05/28/10 08:14 PM Re: flood - will it be extended? Queen Mum
Burgess Offline
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google news and you get many insurance industry publications saying that congress is now gone and they did not pass the flood program extension. One newsletter said flood's experation on May 31st coinsides nicely with the June 1st official start of the Atlantic Hurricane season.
Still these are only insurance industry pubs - i don't see the AP or Reuters picking it up yet.
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#1397919 - 05/28/10 08:26 PM Re: flood - will it be extended? Burgess
M Cockrell Offline
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Dallas, TX
see this NFIP Bulletin
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#1398045 - 06/01/10 01:05 PM Re: flood - will it be extended? M Cockrell
DD Regs Offline
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Somewhere in the middle
This song and dance is getting REALLY old.
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#1398046 - 06/01/10 01:12 PM Re: flood - will it be extended? DD Regs
RR Joker Offline
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The Swamp
for real!
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#1398048 - 06/01/10 01:16 PM Re: flood - will it be extended? M Cockrell
QCL Offline
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Originally Posted By: M Cockrell
see this NFIP Bulletin


Yuk!

Thanks for posting.

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#1398104 - 06/01/10 03:27 PM Re: flood - will it be extended? QCL
illiniyak Offline
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From what I am reading; the House passed H.R. 4213 The American Jobs and Closing Tax Loopholes Act of 2010 on May 28, 2010 which includes a section on Disaster Response and Flood Insurance that states:
NATIONAL FLOOD INSURANCE: Since its creation in the National Flood Insurance Act of 1968, the National Flood Insurance Program (NFIP) has been the primary source of reliable flood insurance coverage for millions of American homes and businesses. The NFIP is authorized to write and renew flood insurance coverage through May 31, 2010. The bill would extend the NFIPís authority to write and renew flood insurance coverage through December 31, 2010 and help provide needed stability in the nationís housing markets.
Ways and Means: The American Jobs and Closing Tax Loopholes Act of 2010
(Click into the "Click here for a summary of H.R. 4213 Updated May 28th" and go to the section on "Disaster Response"; page 14 I believe)

Hopefully this means the hiatus won't last too long

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#1398534 - 06/02/10 02:59 PM Re: flood - will it be extended? illiniyak
stella Offline
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so what is everyone doing in the meantime?...are you taking the risk and closing these loans or making them wait until they sign the reauthorization?

Thanks

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#1398596 - 06/02/10 04:11 PM Re: flood - will it be extended? stella
Burgess Offline
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The fdic guidance came out and said we could make the loan without flood....BUT we had to document why we were ok with it on a safety and soundness basis and.. Well there were enough "ands" that it became clear to us that we should not try and make any without flood. Also on home loans the secondary markets are adament they will not buy a loan closed without flood in this hiatus period.
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#1398615 - 06/02/10 04:46 PM Re: flood - will it be extended? Burgess
Queen Mum Offline
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OK
We need a Senator to try to buy a house in a flood zone during this expired time. Then they might make sure it gets passed!!

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#1398652 - 06/02/10 05:53 PM Re: flood - will it be extended? Queen Mum
RR Joker Offline
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You got that right, Queen!
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#1398712 - 06/02/10 06:56 PM Re: flood - will it be extended? RR Joker
lilbit Offline
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Has the FDIC issued new guidance for this latest lapse or do we just use the guidance from the March lapse time?

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#1398769 - 06/02/10 08:28 PM Re: flood - will it be extended? lilbit
MarieR Offline
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There is a line in the FDIC guidance the says to use it for any future lapse of the NFIP.
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#1401236 - 06/09/10 03:22 PM Re: flood - will it be extended? MarieR
JoAnne Offline
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Michigan
I did a search on H.R. 4213 and found this: "Senate Begins Debate on Unemployement Benefits Extension HR 4213" from 6/8/10.
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#1403241 - 06/14/10 04:51 PM Re: flood - will it be extended? JoAnne
SMQ, CRCM Offline
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Between the lines
Has anyone heard anything yet?
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#1403708 - 06/15/10 03:07 PM Re: flood - will it be extended? SMQ, CRCM
JobSecurity Offline
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This is to provide an update on Congressional activity to reauthorize the NFIP, based on reports gathered from various sources.

As of Thursday, June 10, 2010 Congress is on a four-day break. They will not resume consideration of a bill to extend the NFIP authority until Monday, June 14, and votes will not occur until Tuesday, June 15 at the earliest. The Senate plans to consider H.R. 4213, which contains an NFIP authorization through December 31, 2010.

You are to be guided by the memorandum of May 28, 2010, Bulletin W10063.

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#1403720 - 06/15/10 03:19 PM Re: flood - will it be extended? JobSecurity
Truffle Royale Offline

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Thanks for the update, Deb.
As someone said, this is getting REALLY old.
Why the he// doesn't congress just pass this once and for all with a provision for annual updating, whatever.
Why must it constantly be attached and voted on...like there's ever going to be a need for there not to be NFIP???!!! mad
Just one more thing for compliance folk to learn to dance to the government's subject-to-change-without-notice music on.
(rant over)

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#1404612 - 06/16/10 07:58 PM Re: flood - will it be extended? Truffle Royale
Tillie Offline
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Maybe job security????

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#1404805 - 06/17/10 01:32 PM Re: flood - will it be extended? SMQ, CRCM
M Cockrell Offline
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M Cockrell
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Dallas, TX
from the article: Senate Fails to Extend NFIP; Hiatus Passes Two Weeks...

"A test vote in the U.S. Senate failed to clear the bill that includes extensions of the National Flood Insurance Program, COBRA subsidies and Medicare doctor pay levels, again disappointing insurance companies that have been waiting for the programs to get back online -- especially the property/casualty insurers, forced to watch yet another lengthy hiatus of the flood program."
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#1409356 - 06/29/10 02:50 PM Re: flood - will it be extended? M Cockrell
Dani York, CRCM Offline
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Has Congress done anything about this yet?
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#1409374 - 06/29/10 03:14 PM Re: flood - will it be extended? Dani York, CRCM
M Cockrell Offline
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M Cockrell
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Dallas, TX
This is the latest that I've seen: NFIP Program Lapse Continues
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#1409380 - 06/29/10 03:24 PM Re: flood - will it be extended? M Cockrell
Dani York, CRCM Offline
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TN
Thanks for the update M.
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#1409592 - 06/29/10 07:38 PM Re: flood - will it be extended? Dani York, CRCM
Kathleen O. Blanchard Offline

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Years ago a woman who worked for me used to suggest that we all get on a bus and go to Washington with signs protesting various regulatory changes. I keep thinking of her with this flood fiasco.
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#1409601 - 06/29/10 07:41 PM Re: flood - will it be extended? Kathleen O. Blanchard
Dani York, CRCM Offline
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TN
The only issue is that there would be soooo many protests that they would probably try to regulate those too....and the font size of the sign verbiage. laugh
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