Number: RL34367
Title: Side-by-Side Comparison of Flood Insurance Reform Legislation in the 110th Congress
Authors: Rawle O. King, Government and Finance Division 
Abstract: Congress is concerned about the financial challenges facing the NFIP and the need to reauthorize the program before September 30, 2008. An important aspect of the financial challenges facing the program involves the rebuilding of the Gulf Coast region and the adequacy of the NFIP to meet the future commercial and multifamily real estate mortgage financial needs of all other communities. Without federal flood insurance, for example, lenders will often not be able to sell mortgages in coastal areas and other regions prone to flooding. Without a reliable and uninterrupted source of affordable flood insurance, mortgage credit and home ownership would be more expensive.
Pages: 20
Date: June 24, 2008