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Revised Lender Guidelines Due in 2007The Mandatory Purchase of Flood Insurance Guidelines booklet is the NFIP's primary guidance document for lenders and servicers when it comes to National Flood Insurance. Several changes have occurred since this publication was last revised in 1999. For some time, work has been under way to update and clarify information in this document.Although the revised Guidelines was scheduled for distribution by the end of 2006, in light of pending legislation affecting the NFIP, FEMA viewed it beneficial to delay publication until the U.S. Congress votes on the House and Senate Bill versions of the Flood Insurance Reform and Modernization Act of 2006. The anticipated release and distribution of the updated/revised version of the Mandatory Purchase of Flood Insurance Guidelines (FEMA 186) has been extended to mid-2007. Lenders and servicers should continue to use the current booklet as a source of guidance regarding flood insurance purchase requirements. A final source of guidance can be obtained from the appropriate Federal regulatory entity or Government Sponsored Enterprise. When the revised booklet is published and distributed, we will announce this on this site (and a notice will be posted on the FEMA NFIP website). |
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Last updated on January 2, 2007
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