Congressional authorization of the National Flood Insurance Program (NFIP) lapsed effective 12:00am March 1, 2010. This means that until Congress approves reauthorization, new NFIP policies will not be issued or renewed, claims will not be paid, and increased coverage requests will not be processed. This has huge implications on the lending industry and home mortgage/building industry.
So the following actions of the NFIP mapping program will be stopped short of final issuance:
Letters of Final Determination (LFD)
Letters of Map Change:
Letters of Map Amendment (LOMA)
Conditional Letters of Map Amendment (CLOMA)
Letters of Map Revision (LOMR)
Letters of Map Revision based on Fill (LOMR-F)
Conditional Letters of Map Revision (CLOMR)
Conditional Letters of Map Revision based on Fill (CLOMR-F)
Letters of Determination Review (LODR)
Initiation of Appeals Periods
Issuance of Appeal Resolution Letters
Publication of Final Rules in the Federal Register
Publication of notifications in local newspapers
Collection of fees
Please stay tuned and we’ll hopefully have some good news soon…
