Category: Flood Insurance & Excess Flood
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FEMA Flood No Longer Required for FHA Loan Products
Starting December 21, 2022, mortgagors can purchase private flood insurance on FHA-insured mortgages for properties located in Special Flood Hazard Areas (SFHAs).
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NOAA Predicts Above-average 2022 Atlantic Hurricane Season
For the seventh consecutive year, forecasters at the National Oceanic and Atmospheric Administration’s (NOAA) Climate Prediction Center are predicting an above-average Atlantic hurricane season—which extends from June 1 to Nov. 30. According to forecasters, there is a 65% chance of an above-average season, a 25% chance of a near-average season and a 10% chance of…