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

  • Opposes FHA’s regulation barring lenders from accepting private flood insurance on FHA insured loans;
  • 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
  • Urges the Agency to exercise its discretion under current law and reverse the regulation so FHA lenders can begin accepting private flood insurance.