On July 26, 2017, NAR, as part of a broad coalition of housing, lending, insurance and consumer groups, wrote Dana T. Wade, Federal Housing Administration's (FHA) Deputy Assistant Secretary for Housing re: private flood insurance.
In the letter, the coalition
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Opposes FHA’s regulation barring lenders from accepting private flood insurance on FHA insured loans;
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Notes that the rule conflicts with the Biggert-Waters Act and legislation is now pending in Congress specifically to overrule FHA on this decision; and
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Urges the Agency to exercise its discretion under current law and reverse the regulation so FHA lenders can begin accepting private flood insurance.
Coalition Letter to FHA's General Deputy Assistant Secretary Wade Regarding Private Flood Insurance Requirements
Issue Date: July 26, 2017
On July 26, 2017, NAR, as part of a broad coalition of housing, lending, insurance and consumer groups, wrote Dana T. Wade, Federal Housing Administration's (FHA) Deputy Assistant Secretary for Housing re: private flood insurance.
In the letter, the coalition
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