NAMB Government Affairs Update The Senate will vote at 4:30 CST on whether or not to delay flood insurance premium hikes! Please call your respresenatatives in the Senate today and let them hear your thoughts on the increase of flood insurance premiums is a fragile housing market. It is imperative they hear from you today! The measure is known as Senate Bill 1846, Flood Insurance Affordability Act. Find your representatives here: whoismyrepresentative/ Key Senate vote on flood insurance delaying bill set for Monday Monday at 4:30 p.m. CT the Senate is scheduled to vote on a measure that would allow debate to proceed on legislation to delay large flood insurance premium increases for four years. Sen. Mary Landrieu, D-La., a lead sponsor of the legislation, is optimistic the measure has the 60 votes needed to move forward and win Senate approval, though prospects in the GOP-led House are less certain. Over the last several days, the measure gained two new cosponsors, Sen. Ron Wyden, D-Ore., and Sen. Debbie Stabenow, D-Mich., bringing the number to 31. It also recently gained the support of Sen. Marco Rubio, R-Fla. The bill is aimed at blocking large rate increases resulting from the 2012 Biggert-Waters Act, which was designed to make the program fiscally sound. But, according to critics, the law is having the effect of pricing some policies so high as to make them unaffordable. After months of work, the Senate will finally debate this critical piece of legislation that will provide basic consumer protections to families who have played by the rules, Landrieu said. Said. Nationwide, 5.6 million flood insurance policyholders are waiting for us to provide them some relief, and thanks to the support of this bipartisan coalition, which now includes Sens. Wyden and Stabenow, we are one step closer. Smartersafer.org, an insurance industry led coalition, continued to urge defeat of the bill. Instead, it called for some targeted delays and subsidies to people who cannot afford the increases resulting from the law. These changes will do more than simply assuage the opposition that has arisen over the past few months -- they will target subsidies in the National Flood Insurance Program to those who truly need it while putting the program on stronger financial footing, the group said in a letter to Speaker John Boehner, who recently expressed opposition to the Senate bill. Also, please share your flood insurance stories with NAMB in the survey below: NAMB Flood Insurance Premium Hike Survey The data collected from previous surveys has been instrumental in telling your stories and has opened lots of eyes in Washington, D.C. Please help us continue the fight. Help us with our efforts. If you are a member, thank you for your support. If you are a future member, please visit MailScanner has detected a possible fraud attempt from r20.rs6.net claiming to be joinnamb.org and support your livelihood. Also, dont be afraid to call your representatives and let the hear your stories too. Contact me anytime at [email protected]. Thank you for your time. Sincerely, Richard M. Bettencourt Jr., CRMS, CMHS Government Affairs Chair Branch Manager NMLS# 7810 Mortgage Network. Inc. Corporate NMLS# 2668 52 Maple Street Danvers, MA 01923 rbettencourt@mortgagenetwork Bus: 978-304-0818 Cell: 978-979-0883 Fax: 855-447-4350 Massachusetts Licensed Lender & Broker MC2668 Licensed by the New Hampshire Banking Department
Posted on: Tue, 28 Jan 2014 11:28:42 +0000
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