A bill that will extend federal flood insurance for another year was approved by U.S. senators.
S. 3814, the National Flood Insurance Program Re-extension Act of 2010, was passed by the Senate Tuesday. The vote was unanimous.
The bill’s passage was hailed by the Mortgage Bankers Association.
“I want to thank Senator David Vitter for sponsoring this bill and the Senate for moving quickly to pass this much needed extension,” MBA Chairman Robert E. Story Jr. said in a statement. “We urge the House to move quickly and pass this one year extension.”
The program is set to expire on Sept. 30.
