President Bush has signed a bill that extends the flood insurance program for five years and avoids a shutdown of the National Flood Insurance Program.The Federal Emergency Management Agency's authority to issue flood insurance policies was due to expire after June 30. The bill (S. 2238) extends the flood insurance program for five years and creates a new $40 million pilot program that is designed to reduce the cost of insurance claims on properties that are repeatedly hit by floods. House Financial Services Committee Chairman Michael Oxley, R-Ohio, congratulated the original sponsors of the bill, Rep. Doug Bereuter, R-Neb., and Rep. Earl Blumenauer, D-Ore., for their efforts in fashioning the bill and for the bipartisan effort that led to its passage. "The reforms set out in this law fortify the original intent of the NPIF while preventing unacceptable expenses to the taxpayers," Rep. Oxley said.
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Malhotra joins the home finance giant after previously helping launch platforms to provide generative AI enterprise solutions and founding a technology research lab at the global multinational firm.
May 6 -
The reverse-mortgage lender saw a quarterly loss but expects originations to increase 10% in the second quarter, as it attempts to address high-yield debt concerns.
May 6 -
Capital Community Bank of Provo has purchased Security Home Mortgage, headquartered in nearby Orem.
May 6 -
Mike Kortas, CEO of NEXA, alleges he fired his former co-owner, Mat Grella, because he added himself as a "new manager" of the company in a filed amendment to the company's articles of organization.
May 6 -
Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
May 6 -
Ex-CEO Michael Strauss used the lender's bank various accounts to pay for his own expenses, a trustee for the failed lender claims.
May 6