Steven Gust

flooded mansion

Important Update National Flood Insurance Program—What’s Going On?

On December 21, 2018, the President signed legislation that extended the National Flood Insurance Program’s (NFIP’s) authorization to May 31, 2019. All was well for another six months, or so everyone (including Congress) thought. On December 27th, FEMA ruled that the NFIP extension doesn’t allow for its continuation during the ongoing government shutdown. This decision …

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flood insurance policy

Servicing Compliance Webinar Series: National Flood Insurance Act

Keeping Your Compliance Program Afloat Key webinar topics include: Flood determination timing The Standard Flood Hazard Form. Required coverage calculation Key data on the declaration page Coverage for “abundance of caution” collateral Clarify detached structure requirements Required documentation prior to closing Tracking and monitoring coverage for existing loans Coverage of commercial buildings Definition of a …

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flood-insurance-policy

Government Shutdown—National Flood Insurance Program Affected

Washington pulled through with a temporary compromise on extending government funding on Monday, thereby continuing to fund many “non‐essential” services and programs – one of which is the National Flood Insurance Program (NFIP). However, this provides us with a three week window and if additional compromises or an agreement is not made we may find …

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