With the hurricane season upon us, lawmakers in Washington have voted for a temporary extension of the National Flood Insurance Program — a move applauded by mortgage bankers.
On Tuesday, the Senate voted to pass S.1182 – National Flood Insurance Program Extension Act of 2018. The bill was previously passed by the House on July 25.
The legislation amends the National Flood Insurance Act of 1968 to reauthorize the NFIP. However, the program extension only lasts through Nov. 30, 2018 — long enough to make it through the hurricane season.
Source: Mortgage Daily