News & Analysis as of

Fair Housing Act (FHA) Flood Insurance

Bradley Arant Boult Cummings LLP

HUD’s Federal Flood Risk Management Standard Final Rule to Help Communities Reduce Flood Damage, but Tradeoffs Draw Criticism

On April 22, 2024, the Department of Housing and Urban Development (HUD) published its final rule regarding updated flood insurance requirements in certain areas of the country: Floodplain Management and Protection of...more

Bradley Arant Boult Cummings LLP

HUD Authorizes Acceptance of Private Flood Insurance for FHA-Insured Mortgages

Effective December 21, 2022, the Federal Housing Administration (FHA) amended its regulation at 24 C.F.R. § 203.16a to allow FHA borrowers to purchase private flood insurance for properties located in Special Flood Hazard...more

Alston & Bird

FHA Issues Final Rule on Acceptance of Private Flood Insurance Policies

Alston & Bird on

A&B ABstract: On November 21, 2022, the Federal Housing Administration (“FHA”) announced a final rule to provide for the acceptance of private flood insurance in connection with FHA-insured loans....more

Ballard Spahr LLP

HUD Issues Final Rule Permitting Private Flood Insurance with FHA Loans

Ballard Spahr LLP on

The U.S. Department of Housing Urban Development (HUD) recently issued a final rule permitting the use of private flood insurance policies with FHA-insured mortgage loans. HUD also issued Mortgagee Letter 2022-18 addressing...more

Bradley Arant Boult Cummings LLP

In the Strangest Year Ever, We’re Very Thankful and Wish You a Happy Thanksgiving

As everyone steps away from their (home) office to celebrate Thanksgiving, we wanted to count our blessings as we review this truly remarkable and unusual year. In addition to frontline healthcare workers, good WI-FI, food...more

Ballard Spahr LLP

HUD Proposes Rule to Permit Use of Private Flood Insurance Policies with FHA Loans

Ballard Spahr LLP on

The U.S. Department of Housing Urban Development (HUD) announced a proposed rule to permit the use of private flood insurance policies with FHA mortgage loans. As previously reported, in February 2019 federal regulators...more

Bradley Arant Boult Cummings LLP

FHA Posts Proposed Rule Permitting Acceptance of Private Flood Insurance

On November 10, 2020, the U.S. Department of Housing and Urban Development (HUD) released a proposed amendment to Federal Housing Administration (FHA) regulations that would allow lenders to accept private flood insurance...more

Baker Donelson

When the Minimum is Not Enough: Eleventh Circuit Rules that Lenders May Require Borrowers to Obtain More than the Minimum Flood...

Baker Donelson on

The United States Court of Appeals for the Eleventh Circuit recently resolved a district court split regarding minimum flood insurance coverage by holding that a lender may require a borrower who has a federally-insured...more

Goodwin

Eleventh Circuit Rules Lenders Can Demand Flood Insurance Coverage That Exceeds Loan Balance

Goodwin on

Agreeing with the First Circuit’s recent en banc ruling in Kolbe v. BAC Home Loans Servicing LP, — F.3d —, 2013 WL 5394192 (1st Cir. Sept. 27, 2013), the United States Court of Appeals for the Eleventh Circuit ruled that the...more

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