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 […]
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 […]
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 […]
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 […]
CAI members from around the country met in Washington, D.C., Oct. 29 to address critical community association issues with officials at the Federal Housing Administration (FHA), the Federal Housing Finance Agency (FHFA), the Federal Emergency Management Agency (FEMA) and key Congressional leaders. The intensive advocacy effort, part of a first-ever, federal Legislative Summit organized by […]
Community Associations Institute (CAI) has joined the Coalition for Sustainable Flood Insurance (CSFI) to take an active role in combating impending rate hikes on National Flood Insurance Program (NFIP) policies. Organizations supporting the CSFI range from regional economic groups to state-based trade associations representing lenders, Realtors, and insurance agents. By partnering with CSFI, CAI is […]
According to the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA) will not accept or process most condominium approvals or renewals during a federal government shutdown. Unless the Congress and President Obama agree to a temporary spending measure by midnight on September 30th, many federal agencies and departments will cease […]
