NFIP Reauthorization and Fannie Mae Condo Updates
President Signs NFIP Reauthorization Bill
President Trump signed into law the $1.3 trillion spending bill termed the Consolidated Appropriations Act of 2018. As a result, the federal government is now funded through the end of the fiscal year, September 30, 2018. In addition, the National Flood Insurance Program (NFIP) has been extended through July 31, 2018 giving Congress additional time to act on program reform and long-term reauthorization options.
Fannie Mae Updates Condo Project FAQs
Proctor would also like to draw attention to recent changes Fannie Mae made to various sections of their website pertaining to condo projects.
This material includes new and revised FAQs regarding Project Insurance Requirements and Project Standards, as well as Project Eligibility Review Service materials.
To review these resources please visit the Condo, Co-op, Planned Unit Development Eligibility page here.
Proctor will continue to monitor these topics and provide updates as they develop.