Congress has given itself two more months to come up with long-term solutions for the debt-burdened federal program that provides insurance for homes and businesses in areas subject to flooding. A voice vote in the House Wednesday extended the life of the National Flood Insurance Program for 60 days, assuring that people in flood-risk areas will continue to have access to the flood insurance they need to close on mortgages or obtain refinancing. The program is slated to expire Thursday. The last full-scale reauthorization of the NFIP, a wing of the Federal Emergency Management Agency, occurred in 2004. Since 2008 the insurance provider has stayed alive through a series of 16 short-term extensions while lawmakers debate how to restore its fiscal soundness. To read Jim Abrahms full artice, CLICK HERE Title Junction is hoping that come July 31st, that Congress will extended it for a SOLID 5 more years!

Federal Land Titling System Again?...Pass it on! Representative Marcy Kaptur (D-OH) revived her misguided proposal from last year and is once again trying to create a political path for a federal land titling system. If passed, the Transparency and Security in Mortgage Registration Act of 2011 (H.R. 2425) would require HUD to study the creation of a federal land titling system. The bill also effectively kills the Mortgage Electronic Registration System (MERS) by banning the GSEs from using the system which will result in title agents not being able to identify the holder of a note through MERS. ALTA believes the recording of documents associated with the local transfer of property should not be governed the federal government. Property rights need to continue to be protected through local county recorders working with the land title industry. Please contact your member of Congress to ask them not to support H.R. 2425. CLICK HERE TO CONTACT YOUR REPRESENTATIVE! Title Junction thanks y...