arrow

Get Resources

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®

Check out the complete stats for all local associations.

WHAT’S NEXT:

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.



Be Epic. Be an NC REALTOR®.