Flood insurance

With the program set to expire July 31, the House bill will have to be reconciled with Senate legislation that includes a longer extension.

Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.

Once again, congressional inaction on reauthorizing the National Flood Insurance Program is prompting concerns about what a lapse in coverage could mean for loan closings.

The Senate's farm bill would prevent the July 31 lapse of the National Flood Insurance Program, but it still needs to be debated in conference with the House.

There are almost 7 million coastal homes facing more than $1.6 trillion in potential storm-surge reconstruction expenses this year, representing a 6.6% cost increase from last year's hurricane season.

As Congress moves quickly toward passing regulatory relief legislation, another financial services policy goal — long-term reform of the National Flood Insurance Program — remains stalled.

Senate leaders have unveiled a budget agreement that includes $64.2 billion to help states and U.S. territories recover from last year's hurricanes, wildfires and other disasters.

Likely changes to the National Flood Insurance Program are poised to raise costs for many Jersey Shore homeowners, perhaps substantially.

Commissioners Court is considering slowing the growth of the Harris County, Texas, budget as officials continue to grapple with Hurricane Harvey's widespread destruction and potential impact on property tax revenues.

The percentage of flood damage to residential properties from Hurricane Harvey that is uninsured is turning out to be a little higher than earlier estimates.