On Dec. 27, NAHB filed comments opposing HUD’s planned implementation of the Federal Flood Risk Management Standard (FFRMS). As we previously reported, NAHB believes the proposed rule is substantially flawed and should be withdrawn.
“HUD’s proposal unnecessarily expands floodplain management requirements and fundamentally threatens access to FHA mortgage insurance programs for single-family home buyers and multifamily builders,” said NAHB Chairman Ed Brady. “If implemented, the proposal will severely disrupt the housing market and harm affordability for countless families living in areas designated under the expanded floodplain definition.”…read more