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Proposed flood insurance rule out for comment
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Regulatory Updates
Tuesday, October 28, 2014
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Five federal regulatory agencies announced the approval of a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas. The proposed rule would implement provisions of the Homeowner Flood Insurance Affordability Act of 2014 relating to escrowing flood insurance payments and the exemption of certain detached structures from the mandatory flood insurance purchase requirement.
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