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INDUSTRY NEWS

Loans in Areas Having Special Flood Hazards; Interagency Questions and Answers Regarding Flood Insurance

Interagency Questions & Answers Regarding Flood Insurance:  a long-awaited draft revision of the 2011 document was jointly published by the Federal Financial Regulatory Agencies last Friday to update certain guidance and to reorganize subject matter to make it easier to reference. The regulators have also indicated that a separate, additional Q&A to address the private flood rule is forthcoming.
A 60-day public comment period begins once the proposed revisions are published in the Federal Register.  The NFA Board and committees are reviewing the revisions to determine if any comments will be submitted on behalf of the association.