Advocacy Analysis: Extend the National Flood Insurance Program
CFA OPEN DATE: JUNE 18, 2018
CFA CLOSE DATE: JULY 31 2018
TOTAL DAYS CFA WAS OPEN: 44 DAYS
ISSUE BACKGROUND: The National Flood Insurance Program (NFIP) provides insurance coverage for properties in floodplains across the country. Flood insurance coverage is required for federally-backed mortgages and in many of these areas, is extremely expensive to purchase on the private market. The NFIP is a Congressionally-authorized program. Due to consistent interest in wholesale reforms to the program, the NFIP has been placed in a revolving cycle of reauthorization at 3 or 6-month intervals. Legislative action was needed to reauthorize the program prior to its expiration on July 31.
PARTICIPATION GOAL: 4,911 [20%] OF MEMBERSHIP
TOTAL ACTION TAKERS: 4,099
MEMBER PARTICIPATION RATE: 16.59%
LOCAL ASSOCIATION PARTICIPATION:
The following local associations achieved or exceeded 20 percent member participation on this Call for Action. Great job!
- ALBEMARLE AREA ASSOCIATION OF REALTORS®
- BRUNSWICK COUNTY ASSOCIATION OF REALTORS®
- BURLINGTON ALAMANCE COUNTY ASSOCIATION OF REALTORS®
- CAPE FEAR REALTORS®
- CARTERET COUNTY ASSOCIATION OF REALTORS®
- CLEVELAND COUNTY ASSOCIATION OF REALTORS®
- GASTON ASSOCIATION OF REALTORS®
- LEXINGTON-DAVIDSON COUNTY ASSOCIATION OF REALTORS®
- MCDOWELL BOARD OF REALTORS®
- MID CAROLINA REGIONAL ASSOCIATION OF REALTORS®
- MOUNTAIN LAKES BOARD OF REALTORS®
- NEUSE RIVER REGION ASSOCIATION OF REALTORS®
- OUTER BANKS ASSOCIATION OF REALTORS®
- SALISBURY/ROWAN ASSOCIATION OF REALTORS®
- SURRY REGIONAL ASSOCIATION OF REALTORS®
- TOPSAIL ISLAND ASSOCIATION OF REALTORS®
- UNION COUNTY ASSOCIATION OF REALTORS®
- WASHINGTON BEAUFORT COUNTY BOARD OF REALTORS®
- WILKES COUNTY ASSOCIATION OF REALTORS® WILSON BOARD OF REALTORS®
Unfortunately, when Congress took action, they only reauthorized the NFIP for roughly 5 months. This means that the reauthorization fight will begin again in advance of the November 30 expiration. Discussion is being had by members in both chambers regarding long-term reauthorization of the program in exchange for significant reforms.
Follow NAR’s National Flood Insurance Program issue page for more information on this evolving discussion.