On October 11th, five federal financial regulatory agencies issued a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas. The proposed rule would implement certain provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 with respect to private flood insurance, the escrow of flood insurance payments, and the forced-placement of flood insurance. Comments should be submitted on or before December 10, 2013. Joint Agency Press Release.