HR 1430

112th CONGRESS
1st Session

H. R. 1430

To require regulated lending institutions, Federal agency lenders, and Government-sponsored enterprises for housing to accept flood insurance coverage provided by a private entity that otherwise meets the requirements for the mandatory purchase of flood insurance to accept such flood insurance coverage as satisfaction of such requirements.

IN THE HOUSE OF REPRESENTATIVES

April 7, 2011

Mr. NUNES (for himself, Mr. CHAFFETZ, and Mr. PAUL) introduced the following bill; which was referred to the Committee on Financial Services


A BILL

To require regulated lending institutions, Federal agency lenders, and Government-sponsored enterprises for housing to accept flood insurance coverage provided by a private entity that otherwise meets the requirements for the mandatory purchase of flood insurance to accept such flood insurance coverage as satisfaction of such requirements.

SECTION 1. SHORT TITLE.

SEC. 2. USE OF PRIVATE INSURANCE TO SATISFY REQUIREMENT TO PURCHASE FLOOD INSURANCE TO RECEIVE A MORTGAGE LOAN.

END