Nation: Flood Insurance Hearings

The House of Representatives held the first of several hearings on the National Flood Insurance Program (NFIP). The Senate held a hearing on March 14. The NFIP must be reauthorized to continue selling flood insurance after September 30 of this year. The purpose of these hearings is to solicit ideas for how to restructure theContinue reading “Nation: Flood Insurance Hearings”

Flood Insurance Changes

As of April 1, there are changes to the 2014 Homeowner Flood Insurance Affordability Act. National Flood Insurance Program (NFIP) premium rates are set to rise an average of 9 percent. This increase is less than the 2015 average and is consistent with the annual 5-10 percent increases prior to the 2012 Biggert-Waters Act, whichContinue reading “Flood Insurance Changes”

Flood Advocate Reports to Congress

On March 17, 2016, the Office of the Flood Insurance Advocate issued its first annual report identifying the first set of issues to be addressed in the National Flood Insurance Program (NFIP). Among the challenges are lack of data, barriers to claims, application of surcharges, multi-year refunds, and flood proofing paperwork. Championed by NAR asContinue reading “Flood Advocate Reports to Congress”

Larimer: Expect Changes To Flood Plain Maps

In the wake of the devastating September 2013 flood Larimer County officials want to review the County’s flood plain maps. In some cases rivers moved and/or created new channels, for example. FEMA does not require periodic review of flood plain maps but local governments often begin the process by making the request of State andContinue reading “Larimer: Expect Changes To Flood Plain Maps”

President Issues Order on Flood Risk Standards

President Obama issued Executive Order 13690, “The Federal Flood Risk Management Standard” (FFRMS) at the end of January. The new federal flood risk standard requires all future federal investments in and affecting floodplains to meet the level of resilience as established by the Standard. The Standard was issued to further the Climate Action Plan; floodContinue reading “President Issues Order on Flood Risk Standards”

President Signs Flood Insurance Bill

On Friday, March 21 President Obama signed the “Homeowner Flood Insurance Affordability Act” into law. This law repeals FEMA’s authority to increase premium rates at time of sale or new flood map, and refunds the excessive premium to those who bought a property before FEMA warned them of the rate increase. The bill makes theContinue reading “President Signs Flood Insurance Bill”

House Passes Flood Insurance With Amendments

On March 4, 2014, the House voted 306-91 to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370) with amendments. The House amendments further reign in and hold the Federal Emergency Management Agency (FEMA) accountable for the Biggert-Waters implementation issues. As passed, the bill would repeal FEMA’s authority to increase premium rates at time ofContinue reading “House Passes Flood Insurance With Amendments”

Evans Trailer Park Contamination Creates Dilemma

Eastwood Village and Bella Vista mobile home parks were hard hit by the September floods. The City of Evans and Weld County are frustrated because they lack the authority to force the mobile home park owners to clean up flood debris, which they believe will become a health hazard this spring. Officials estimate removal ofContinue reading “Evans Trailer Park Contamination Creates Dilemma”

Boulder County Planning Commission to Discuss Floodplain Regulations

On Feb. 19 the Planning Commission will meet with officials from the County and FEMA. Topics to be covered include: NFIP background/ history/purpose; NFIP costs overall, how Program should work, and Biggert Water Reform; Community Rating System; Floodplain mapping – limitations and expectations; Special Flood Hazard Area requirements and Boulder County’s floodplain regulations; Substantial Damage/SubstantialContinue reading “Boulder County Planning Commission to Discuss Floodplain Regulations”

Mortgage Cancellation Debt Relief Update

Congress failed to act before December 31st to extend the Mortgage Debt Forgiveness Act. NAR says now that it appears that Congress will most likely address individual tax provisions retroactively in 2014.  While there are still many procedural obstacles to overcome, NAR is confident Congress will move on an extension of Mortgage Cancellation relief.  AsContinue reading “Mortgage Cancellation Debt Relief Update”