Links in “Flood Insurance”
- Sticker Shock: New Flood Insurance Premiums Took Effect 10/1
Subsidies meant most flood insurance premiums were significantly below actuarial risk. That changed Tuesday. [10/3]
- Flood Insurance Rates Could Skyrocket Beginning October 1
A federally mandated study concerning the affordability issues related to the National Flood Insurance Program will likely not be completed for another two years. Despite that, rate hikes for flood insurance premiums are scheduled to begin on October 1Â as federal subsidies begin to be eliminated. There is some fear that the increases could be as high as 3,000% and could force people out of their homes. [9/19]
- 45-day Notice for Flood Insurance
Bank provides 45-day notice to the customer, who provides flood insurance but at an inadequate amount; bank asks if it is necessary to send another 45-day notice. [8/19]
- Escrow Rules of Biggert-Waters May Surprise Some Small Lenders
Starting next July, lenders will have to comply with the new escrow requirement not only for new flood loans originated after the effective date of the rule, but also for any active flood loans already on the books. [7/24]
- FEMA Promotes Protection
FEMA Promotes Flood Awareness with useful links and guides. [7/16]
- Breaking Flood Reform Rules into Manageable Waves
Recommendations for tackling the regulation in waves, with the highest priority/longest-lead time items sooner than later. [7/1]
