Congress Approves Short-term Extension for National Flood Insurance Program (NFIP)
Amy Fennell • December 8, 2017
Reprinted from The Advocate
By: Bryn Stole
Congress extended the National Flood Insurance Program by a fortnight Thursday as part of a broad but temporary federal-government funding deal.
The flood insurance provisions will keep the program operating as normal through Dec. 22, buying lawmakers time to work on a longer term reauthorization for the important but beleaguered federal program.
It's unclear if the two-week reprieve offers a long enough window for the House and Senate to bridge significant differences over a potential overhaul of the program.
Heated debate over proposed reforms to NFIP have left the program's future in limbo for months. Lawmakers from flood-prone states like Louisiana have insisted on provisions to keep coverage affordable while a group of fiscal hawks have pressed for reforms that would jack up premiums for some vulnerable policyholders.
A lapse in the program would've caused havoc in real estate markets in south Louisiana, holding up mortgages for anyone eyeing property in high-risk flood areas and creating uncertainty for buyers, sellers and lenders.
It would have also created potential roadblocks to paying claims, including to victims of the 2016 Baton Rouge-area floods and this year's devastating Atlantic hurricane season.
The two-week extension avoids those issues but creates a new looming deadline for lawmakers trying to hammer out a deal.
An NFIP reauthorization bill cleared the House in November. But the Senate isn't expected to consider the package. Senators have expressed concern over potential rate hikes for homeowners under the House bill and will likely consider several bills of their own, including two separate pieces of legislation by Sens. John Kennedy and Bill Cassidy of Louisiana.

As previewed last week, NAR is pleased to share the latest consumer guide focused on buying land and building a new home. This guide covers how to find land for sale, explains construction loans, and weighs the pros and cons of building a custom home. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Buying Land and Building a New Home Deeds and Titles Alternative Listing Options Navigating Multiple Offers Homeowners Associations Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover property title theft.

As previewed last week, NAR is pleased to share the latest consumer guide focused on deeds and titles. This guide covers the difference between a deed and a title, common types of deeds, and title searches and insurance. As a reminder, all guides in this series are available for download—in both English and Spanish—on facts.realtor . Please allow a few days for the Spanish version of the latest resource to be translated and uploaded. For ease of reference, below is a list of the most recent guides: NEW: Deeds and Titles Alternative Listing Options Navigating Multiple Offers Homeowners Associations Marketing Your Home Thank you for continuing to engage with the “Consumer Guide” series and for sharing the resources with prospective clients to ensure they have the information they need to find success in their homebuying or selling journey. Remember that these guides are for informational purposes only and are not meant to enact or change any existing NAR policy. Be on the lookout for next week’s guide on Wednesday, which will cover buying land / constructing a new home.