Flood insurance

Awareness of disaster risk has increased in the public and private sectors, and it appears to be prompting more interest in home improvements in particular.

The bipartisan deal struck Saturday temporarily allays concerns that would've required workarounds in parts of the lending process reliant on government agencies.

The change, effective Dec. 21, is being put into place two years after it was first proposed.

For decades lawmakers have ignored broad structural flaws in the National Flood Insurance Program, which underpins millions of home mortgages. And the problem is only getting worse.

Many federal agencies have been closed for more than three weeks, making it the longest shutdown in U.S. history. With no end in sight, here's how it's affecting banks, credit unions and mortgage lenders.

The announcement rescinded the agency's earlier guidance issued to industry partners to suspend sales operations as a result of the current lapse in funding from Congress.

Lawmakers and industry groups were caught off guard when FEMA said it wouldn't issue flood insurance policies during the government shutdown, despite an extension passed last week.

Lawmakers have had to extend the program eight times since October 2017, as Congress has been unable to pass broader reforms.

Lawmakers authorized a four-month extension less than a day before the program was set to expire.

Reps. Ed Royce, R-Calif., and Earl Blumenauer, D-Ore., introduced a bipartisan package of legislation Tuesday to extend the National Flood Insurance Program through Nov. 30.