NFIP Extended A Week to Prevent Lapse
LOUISIANA REALTORS • November 30, 2018
Louisiana Senators Bill Cassidy and John Kennedy continue to be key players in negotiations and we thank them for taking the lead on this key issue!
Flood Insurance Program extended at least another week
CONTACT US
The Advocate By: Bryn Stole
Congress pushed back its deadline to deal with the National Flood Insurance Program by at least a week, passing yet another short-term extension of the program late Thursday.
A deadline to avoid a lapse in the federal program, which underwrites most flood insurance coverage in the country and covers a half-million Louisiana homes, had been looming at midnight on Friday. The short-term deal is the eighth temporary extension for the program since it first came up for periodic renewal more than a year ago.
Louisiana Sens. Bill Cassidy and John Kennedy had pushed for a six-month extension of the program, putting off a deadline until the spring and giving new incoming leadership in the House of Representatives time to get to work on a comprehensive overhaul of the program.
Both the House and Senate passed a week-long extension on Thursday evening. The Senate also passed the six-month deal, meaning the House could come back Friday or next week and pass the longer extension as well.
No long-term deal over the beleaguered flood insurance program — which is mired in billions of debt from payouts for past hurricanes — is expected in the coming weeks. But lawmakers will need to strike an agreement on just how long to extend it.
Lawmakers have remained deadlocked for more than a year over long-term reforms to the program. <<Read the Full Article>>
The National Association of REALTORS® Board of Directors approved a 2026 budget with no dues increase and passed a Professional Standards Recommendation to clarify language in NAR Code of Ethics Standard of Practice 10-5, which prohibits harassment of any person or persons protected under Article 10 of the Code. A day earlier, the Executive Committee approved another Professional Standards change, revising language for Policy Statement 29 designed to ensure state and local associations can fairly and consistently enforce the Code of Ethics. Learn more about the changes. Read the revised Code of Ethics and Standards of Practice. Board members also approved a consent agenda to elect the 2026 officers and regional vice presidents . Christine Hansen of Ft. Lauderdale, Fla., was elected 2026 President-Elect, and Colin Mullane of Ashland, Ore. was elected 2026 First Vice President. The meeting opened with a video message from President Donald Trump, who welcomed REALTORS® to Washington and thanked them for support of the House-passed tax reform. NAR routinely invites the U.S. president to address REALTORS® at the Washington meetings. Over NAR's history, nine sitting presidents have addressed the association. Board Actions Approved a series of Finance Committee recommendations, accepting the association’s financial statement, approving the 2026 operating and advocacy budgets, and keeping dues at $156. The board actions also redirect $35 of the $45 Consumer Advertising Campaign assessment to operating funds. This change positions NAR to make its next settlement payment in February 2026 and maintain a balanced budget without raising total dues. The remaining $10 for the Consumer Advertising Campaign will fund optimized, metrics-driven activities that reach and engage consumers in critical markets. NAR CEO Nykia Wright and President Kevin Sears explained the shift at the opening session of the conference . Amended Standard of Practice 10-5 to give state and local associations greater clarity in how to fairly and consistently enforce Article 10 of the Code of Ethics. The amended Standard of Practice says that REALTORS®, in their capacity as real estate professionals, in association with their real estate businesses, or in their real estate-related activities, shall not harass any person or persons based on race, color, religion, sex, disability, familial status, national origin, sexual orientation, or gender identity. Made a series of recommendations to the Standards of Practice to bring the language in line with the terms of NAR’s 2024 settlement. Approved a motion to make one member of the Executive Committee a commercial practitioner who has served as chair, vice chair or liaison of an NAR commercial-related committee or forum to serve a two-year term and be independent of the 10% commercial representation requirement outlined in the NAR Constitution. Approved a recommendation from the Credentials and Campaign Rules Committee to amend qualifications for president-elect, first vice president and treasurer effective Jan. 1, 2026. Qualifications for top-line officers are now aligned with those already in place for regional vice presidents. Approved recommendations from the Member Accountability Committee related to applications for volunteer leadership and the Statement of Appropriate Event Conduct. The goal of the recommendations is to ensure members found in violation of the NAR Member Code of Conduct are properly disclosed. Award Winners NAR President Kevin Sears announced the 2025 Distinguished Service Award winners James P. Cormier , AHWD, C2EX, of Minneapolis-St. Paul, and Brooke S. Hunt , AHWD, E-PRO, SFR, SRS, C2EX , of Flower Mound, Texas. In addition, the group recognized the winner of the 2024 William R. Magel Award, Anne Marie DeCatsye , CEO of the Canopy REALTOR® Association and Canopy MLS in the Charlotte, N.C., metro area. REALTORS® Relief Foundation During the meeting, REALTORS® Relief Foundation President Greg Hrabcak appealed to board members to make a tax-deductible donation. The fund provides housing assistance to victims in the immediate aftermath of a disaster; 100% of funds donated go to disaster relief. “We’ve had devastating wildfires in California, tornadoes in Missouri and Kentucky and flooding in West Virginia, and we’re still in the first half of this year,” Hrabcak said. Before the meeting ended, directors had donated more than $41,000.
Whether you’re working in Baton Rouge, Shreveport, Lafayette, or anywhere in between, here’s how you can use Homeownership Month to elevate your real estate marketing and better serve your community.
Here are key insights and ready-to-use talking points to show your clients how homeownership is more than just a place to live—it's a smart strategy for long-term wealth building, especially right here in our state.
