In a recent announcement, HUD revealed that an estimated 10% of new FHA single-family homes built annually fall within the 100-year floodplain. This statistic highlights the potential risk faced by homeowners and lenders in flood-prone areas.
Key points from the article include:
– HUD has finalized a new rule for federal flood risk management standards
– The rule aims to address the growing concern of flooding and its impact on housing
– Stakeholders in the mortgage industry are advised to stay informed on these changes to better assess and mitigate risks
– For more details on this important development, visit the article on Weekly Real Estate News.
You can read this full article at: https://wrenews.com/hud-announces-final-rule-for-federal-flood-risk-management-standard/
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