Mailboxes stick out from flood waters in Lakeside Estate in Houston, Texas on August 30, 2017. (Photo: Getty Image/AFP) FHA is also proposing important safeguards that will help protect borrowers so their homes will have flood insurance coverage at a level at or above the level available through the NFIP. (Photo: Getty Image/AFP)

The Federal Housing Administration (FHA) has proposed a rule that would allow home financing lenders to accept private flood insurance policies as an alternative to the National Flood Insurance Program (NFIP).

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