Flood Elevation Plan Sparks Concerns about Housing Affordability

National Mortgage News, Jan. 17, 2017–Collins, Brian

HUD’s proposed guidance has stirred up a debate on elevation standards as flooding occurs more frequently and in more unexpected places. The higher elevation requirements could impact affordability and “may limit the number of newly constructed homes available to many first-time and low-to-moderate income borrowers,” wrote Thomas Kim and Steve O’Connor of the Mortgage Bankers Association in a Dec. 21 comment letter.