House Approves Private Flood Insurance Bill – NMP Skip to main content

House Approves Private Flood Insurance Bill

Sep 28, 2017
The House of Representatives voted 366-52 to pass legislation that will extend the National Flood Insurance Program (NFIP) until the end of November

The House of Representatives approved legislation that clarifies federal language regarding the use of private flood insurance products.
 
In a 264 to 155 vote, the House gave its approval to the Disaster Tax Relief and Airport and Airway Extension Act of 2017—which, despite its title, included a passage on flood insurance. “With respect to flood insurance, the bill specifies that private flood insurance offered outside of the National Flood Insurance Program satisfies the requirement for homeowners to maintain flood insurance coverage on properties that have federally-backed mortgages and are located in a flood zone,” the bill stated.
 
David H. Stevens, President and CEO of the Mortgage Bankers Association (MBA), welcomed the House vote and looked ahead to the next step in the legislative process.
 
“We now ask the Senate to follow suit and pass this bipartisan private flood insurance language in the Disaster Tax Relief and Airport and Airway Extension Act of 2017,” said Stevens.

 
About the author
Published
Sep 28, 2017
Garg Claims Majority In Better Fight, Board Poised To Honor Vote

Founder says he secured more than 51% of voting power to remove five directors, pending confirmation by a third-party inspector

Oct 01, 2026
Rocket Makes VantageScore Its Default After Testing Finds Borrower Savings

After four months of testing, Rocket will make VantageScore 4.0 its preferred model for eligible retail loans while keeping both scoring options available to brokers

Sep 29, 2026
CHLA: More Freddie Mac MBS Buying Could Narrow Mortgage Spreads

Trade group estimates greater Freddie participation could compress spreads another 10 to 12 basis points as Fannie has taken the lead in GSE mortgage-bond buying

Sep 23, 2026
Early Loan-Limit Race Splits Into Three Tiers

Lenders are now offering $845,000, $847,440, or $850,000 before FHFA sets the official 2027 limits

Sep 23, 2026
Better, Garg Clash Over Claimed 46% Shareholder Support

Better disputes its former CEO’s preliminary consent count as the two sides trade accusations and an Oct. 2 target date approaches

Sep 23, 2026