FLOOD ISSUES RESOLVED – FOR NOW

Fortunately the Federal Emergency Management Agency (FEMA), with some arm-twisting from the mortgage lending industry and Congress, has backed off on its position of not allowing the operations of the National Flood Insurance Program (NFIP) to resume during the government shut down. The change is retroactive to December 21, 2018, the date Congress provided last minute funding for the NFIP.

With the NFIP funding crisis resolved until May 31, 2019, hopefully Congress can shift their focus to returning the NFIP to long term solvency.

Also with the resolution of the temporary crisis, Compliance Resource is cancelling the  crisis management webinar entitled Lapse of FEMA Authority to Issue Flood Insurance Policies, scheduled for January 2, 2019. The materials for the program had been developed, earlier in the year when the possibility of the crisis became evident, with the hope that a NFIP crisis could be averted. Now the materials will be put back on the shelf, again with the hope that a crisis will be avoided next May.

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