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
By a vote of 86 to 13, the U.S. Senate has approved a procedural motion to begin debate on S. 1926, the “Homeowner Flood Insurance Affordability Act.” S. 1926 will delay unusually rapid increases in premiums for flood insurance policies purchased through the National Flood Insurance Program. During debate on S. 1926, CAI Government Affairs
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 to force a vote on flood insurance
Legislation has been introduced in Congress to delay increases in flood insurance premiums required by the Biggert Waters Flood Insurance Reform Act of 2012 (BW Act). The “Homeowner Flood Insurance Affordability Act” (HFIA) sets aside substantial flood insurance rate hikes until the Federal Emergency Management Agency (FEMA) takes action to ensure homeowners have a reasonable
Jean Bestafka, Renaissance at Manchester Vice-Chair, Legislative Action Committee The Community Associations Institute, through the Legislative Action Committee, proposes, monitors and fights for legislation to protect all of our communities as well as opposing legislation that would diminish our ability to operate. We also fight for our communities on a national level. By the time
Legislation has been introduced in Congress to delay increases in flood insurance premiums required by the Biggert Waters Flood Insurance Reform Act of 2012 (BW Act). The “Homeowner Flood Insurance Affordability Act” (HFIA) sets aside substantial flood insurance rate hikes until the Federal Emergency Management Agency (FEMA) takes action to ensure homeowners have a reasonable
In public comments filed with six federal financial regulators, Community Associations Institute urged the adoption of practical mortgage standards to protect homeowners and community associations. CAI expressed support for key aspects of a revised federal regulation, known as “Qualified Residential Mortgage” or QRM, while also stressing the importance of limited priority for association liens. “The
