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Flood insurance authorization lapses in government shutdown

The existing short-term re-authorization of the NFIP (National Flood Insurance Program) expired at midnight 1/19/18. How does this impact you? What do you need to know as Congressional Leaders work on resolutions? The NFIP cannot issue new contracts for flood insurance during a lapse in authority until Congress reauthorizes the NFIP.

. provide documents for mortgage processing, keep a federal flood insurance. During a funding lapse, agencies can retain certain employees to. Trump has said he will keep the government shutdown open for. the condition of anonymity because they weren't authorized to disclose the call's contents.

On Friday, December 21, 2018, President Trump signed into law a measure reauthorizing the National Flood Insurance Program until May 31, 2019. The flood

Yellow Alert: One Shot Left to Avoid NFIP Lapse. Yellow Alert | May.. Government Shutdown Affects National Flood Insurance Program. Yellow Alert | Dec.

to borrowers affected by the government shutdown. Freddie. Program's ( NFIP's) authorization to May 31, 2019.. Until evidence of active flood insurance is obtained, a lender may deliver a mortgage loan to. coverage expires before the mortgage loan is sold, lenders must comply with the procedures.

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Without a new farm bill authorization to. put a provision on flood insurance into her version of the fiscal 2014 homeland security spending bill, but it never reached the floor. “The government is.

Here is how a government shutdown could affect flood policyholders: Congress must periodically renew the NFIP’s statutory authority to operate. On January 22, 2018, the President signed legislation passed by both houses of Congress that extends the National Flood Insurance Program’s (NFIP’s) authorization to 11:59 pm on February 8, 2018.

Bill Dobbins

Trump Visits Texas Border Amid Government Shutdown As a federal program, the NFIP operates under congressional authority and relies on congressional authorization. When the NFIP lapses, either due to a shutdown of the federal government or because Congress does not reauthorize it, many loan closings in these areas are delayed or otherwise complicated, resulting in additional costs and borrower frustrations.

Today, the Federal Emergency Management Agency (FEMA) announced that it will resume the sale of new insurance policies and the renewal of expiring policies. This rescinds initial guidance issued on December 26, 2018, to industry partners to suspend sales operations as a result of the current lapse in annual appropriations.