Y 4.822/3:S.HRG.103-42.? 103-422 NATIONAL FLOOD INSURANCE REFORM ACT OF HEARINGS BEFORE THE SUBCOMMITTEE ON HOUSING AND URBAN AFFAIRS OF THE COMMITTEE ON BANKING, HOUSING, AND URBAN AFFAIRS ONE HUNDRED THIRD CONGRESS FIRST SESSION ON S. 1405 TO STRENGTHEN THE NATIONAL FLOOD INSURANCE PROGRAM AND TO SEPTEMBER 14 AND 15, 1993 Printed for the use of the Committee on Banking, Housing, and Urban Affairs For sale by the U.S. Government Printing Office Superintendent of Documents, Congressional Sales Office, Washington, DC 20402 ISBN 0-16-043687-7 PAUL WEECH, Staff Director KRIS D. WARREN, Legislative Assistant JONATHAN KAMARCK, Republican Staff Director/Subcommittee IRA PAULL, Republican Deputy Staff Director/Counsel (II) CONTENTS Page James L. Witt, Director, Federal Emergency Management Agency Prepared statement Dr. D. James Baker, Under Secretary for Oceans and Atmosphere, National Oceanic and Atmospheric Administration, U.S. Department of Commerce Judy England-Joseph, Director of Housing and Community Development Is- sues, GAO, Washington, DC; accompanied by Don Collins, Flood Insurance Robert J. Engelstad, senior vice president for Mortgage and Lender Stand- ards, Federal National Mortgage Association, Washington, DC General principles underlying Fannie Mae's underwriting Current statutory requirements Response to written questions from Senator Mack Response to questions raised by Senator Mack Flood insurance requirements for Freddie Mac seller/services Kenneth L. Austin, Jr., vice chairman of Loan Administration Committee, Mortgage Bankers Association of America, Washington, DC Page 204 203 Flood insurance reform initiatives in the 102nd Congress The National Flood Insurance Program's failed mandate Yesterday's storms, tomorrow's hurricanes America's coasts: A threatened resource Enact S. 1405 and reform the NFI program Pat Campbell-White, vice chairperson of the Public Policy Committee, Na- 69 ADDITIONAL MATERIAL SUPPLIED FOR THE RECORD Transamerica Flood Hazard Certification, testimony of Thomas P. Della |