Compliance & servicing recommendations should the NFIP’s authority expire on July 31, 2018
On March 23, 2018, the President signed the most recent legislation that extended the National Flood Insurance Program (NFIP) authority through July 31, 2018.
With this date fast approaching, the Senate and House are working to approve a unified version of the Agriculture Improvement Act of 2018 and a stand-alone reauthorization bill, which would reauthorize the NFIP through January 31, 2019.
If neither of these bills is passed before July 31, the NFIP’s authority will expire. If that occurs, we recommend your financial institution maintains all business practices as normal related to flood insurance servicing, including:
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