News & Analysis as of September 25, 2024

Mortgages › National Flood Insurance Program

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The term "mortgage" typically refers to a mortgage loan. A mortgage loan is a financing instrument where an individual or business borrows money to purchase property (usually real property) and... more +

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

Bradley Arant Boult Cummings LLP on 1/5/2023

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

Nutter Bank Report: April 2021

Nutter McClennen & Fish LLP on 4/29/2021

CFPB Takes Steps to Avoid a Possible Wave of Home Mortgage Loan Foreclosures - The CFPB has issued guidance to mortgage servicers, including banks that service mortgage loans for third-party noteholders, that the CFPB...more

Congress Extends National Flood Insurance Program for One Year

Ballard Spahr LLP on 10/8/2020

In the Continuing Appropriations Act, 2021 and Other Extensions Act, which was signed into law on October 1, 2020, the National Flood Insurance Program (NFIP) was extended until September 30, 2021...more

Congress Passes Six-Month Extension of National Flood Insurance Program

Ballard Spahr LLP on 6/4/2019

On June 3, 2019 the United States House of Representatives approved H.R. 2157, which provides for aid to address the consequences of various natural disasters and also includes an extension of the National Flood Insurance...more

National Flood Insurance Program Update

Ballard Spahr LLP on 1/4/2019

As previously reported, in early December 2018 Congress passed another short-term extension of the National Flood Insurance Program that was scheduled to expire on December 21, 2018. ...more

Eleventh Hour Reauthorization of National Flood Insurance Program

Ballard Spahr LLP on 8/1/2018

On July 31, 2018, the day that the National Flood Insurance Program was set to expire, the United States Senate voted 86 to 12 to reauthorize the program through November 30, 2018. ...more

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