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Agencies issue flood insurance rule to implement HFIAA/Biggert-Waters Act
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Regulatory Updates
Tuesday, June 23, 2015
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Five federal regulatory agencies announced the approval of a joint final rule that modifies regulations that apply to loans secured by properties located in special flood hazard areas. The final rule implements provisions of the Homeowner Flood Insurance Affordability Act of 2014 relating to the escrowing of flood insurance payments and the exemption of certain detached structures from the mandatory flood insurance purchase requirement. Read on for more details.
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