CAI sent a letter to members of congress on behalf of its members to share comments and recommendations concerning the housing finance reform discussion draft released by Senators Crapo and Johnson on March 16. CAI highlights the following key issues for CAI Members in Housing Finance Reform legislation: 1. Ensure continuation of community association mortgage standards that directly support access
CAI applauds the efforts of the United States Congress and President Obama to reverse extreme flood insurance rate increases enacted by the Biggert-Waters Flood Insurance Reform Act of 2012. On March 21, 2014, President Obama signed into law the Homeowner Flood Insurance Affordability Act (H.R. 3370). “The Obama Administration realized the negative effects that Biggert-Waters
CAI-NJ Redoubling Manager Licensing Bill after Pocket Veto Jean Bestafka, Renaissance Homeowners Association Legislative Action Committee Board Liaison The Manager Licensing bill was unfortunately vetoed at the very end of New Jersey’s 215th Legislative Session. This occurred when the bill was not signed by the governor. CAI-NJ will continue to work with legislators in this
Community Associations Institute applauds the U.S. Senate for following the U.S. House of Representatives in approving H.R. 3370, the “Homeowner Flood Insurance Affordability Act.” The legislation will be forwarded to President Obama for his signature into law. “Congress agreed with community association homeowners across the country that well-intended reforms to the National Flood Insurance Program
Thomas M. Skiba, CAE, Chief Executive Officer of Community Associations Institute, issued the following statement regarding an agreement in principle concerning housing finance reform legislation announced by Senate Banking Committee Chairman Tim Johnson (D-SD) and Senator Mike Crapo (R-ID). Chairman Johnson and Ranking Member Crapo are to be commended for their diligent approach in crafting
On March 4, 2014, the U.S. House of Representatives passed H.R. 3370, the Homeowner Flood Insurance Affordability Act by a vote of 306-91. H.R. 3370 will go back to the Senate for a vote and then to the President for signature. The legislation seeks to control some premium increases in the national flood insurance program
CAI Continues to take an active role in combating impending rate hikes on National Flood Insurance Program policies. Congress adjourned for 2013 without reversing flood insurance premium hikes as mandated by the Biggert Waters Flood Insurance Reform (Biggert-Waters) Act. The premium increases, which will be implemented in phases, are already impacting homeowners across the country.
The U.S. House of Representatives has scheduled a vote on legislation to provide consumers relief from exorbitant spikes in National Flood Insurance Program (NFIP) insurance premiums. The House will take up an amended version of H.R. 3370, the “Homeowner Flood Insurance Affordability Act (HFIA)” under expedited procedures on Wednesday, February 26th. Expedited procedures in the
By a vote of 67 to 32, the U.S. Senate has approved S.1926, the “Homeowner Flood Insurance Affordability Act,” legislation delaying substantial increases in flood insurance premiums. S.1926 now moves to the U.S. House of Representatives for further legislative action. “When Congress reformed the National Flood Insurance Program in 2012 it was with the best of
Flood Insurance Rate Relief Hits Congressional Roadblock Congress has adjourned for 2013 without reversing flood insurance premium hikes as mandated by the Biggert Waters Flood Insurance Reform (Biggert-Waters) Act. The premium increases, which will be implemented in phases, are already impacting homeowners across the country. In the waning hours of the 2013 congressional session, attempts
