On January 6, 2017 NAR sent a letter to the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration. The letter thanks the agencies for re-proposing the private flood insurance rule and providing a second opportunity for comment. The letter furhter expresses NAR's readiness to work with the agencies to encourage private market options and competition that increases take-up rates of flood insurance and brings down the cost of coverage meeting federal law.
NAR Comment Letter to Federal Agencies Regarding Private Flood Insurance and Loans in Areas Having Special Flood Hazards
Issue Date: January 06, 2017
On January 6, 2017 NAR sent a letter to the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve, the Federal Deposit Insurance Corporation, the Farm Credit Administration, and the National Credit Union Administration. The letter thanks the agencies for re-proposing the private flood insurance rule and providing a second opportunity for comment. The letter furhter expresses NAR's readiness to work with the agencies to encourage private market options and competition that increases take-up rates of flood insurance and brings down the cost of coverage meeting federal law.
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