Implementing the Deluge of Flood Insurance Regulations
Five agencies (the OCC, FRB, FDIC, FCA, and NCUA) are proposing to amend their regulations regarding loans in areas with special flood hazards to implement certain provisions of the Homeowner Flood Insurance Affordability Act of 2014 (HFIAA). In particular, the agencies proposed six additional exemptions from the escrow requirement and the incorporation of the detached structures provision of the HFIAA. [10/30/14]