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Mortgages › Flood Insurance

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 +
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 uses that property as collateral for the loan. less -
Bradley Arant Boult Cummings LLP

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

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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

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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

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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

Ballard Spahr LLP

Congress Extends National Flood Insurance Program for One Year

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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

Ballard Spahr LLP

Congress Passes Six-Month Extension of National Flood Insurance Program

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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

Ballard Spahr LLP

National Flood Insurance Program Update

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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

Ballard Spahr LLP

Eleventh Hour Reauthorization of National Flood Insurance Program

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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

Ballard Spahr LLP

CFPB Staff Presents Second TRID Rule Webinar for 2016

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The CFPB staff presented an informational webinar on Tuesday, April 12, 2016, to address several issues with the TILA/RESPA Integrated Disclosure (TRID) rule. The webinar, titled Know Before You Owe Mortgage Disclosure Rule:...more

Bradley Arant Boult Cummings LLP

Flood Insurance Regulation Update: Joint Final Rule Issued

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The often challenging area of flood insurance requirements, including lender-placed insurance, has become a bit clearer for lenders and loan servicers. Five of the federal banking regulatory agencies (Federal Deposit...more

Baker Donelson

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

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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

Ballard Spahr LLP

Flood Insurance Reform Bill with Escrow Amendments Awaits President’s Signature

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The U.S. House of Representatives and Senate recently passed, and the President is expected to sign into law, amendments to the Biggert-Waters Flood Insurance Reform Act of 2012 (the Act). The legislation seeks to address...more

K&L Gates LLP

Overriding Interest - Winter 2012

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Highlighting developments and issues in the real estate industry - Winter 2012. In this issue: - Not Waving But Drowning - Client/Sector Focus - Our Residential Investment Practice - Case Summaries - New...more

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