Which of the following is NOT a component of the NFIP?

The choice stating 'Mandatory mortgage insurance' is not a component of the National Flood Insurance Program (NFIP) because the NFIP focuses specifically on providing flood insurance coverage to property owners and renters, not on enforcing mandatory mortgage insurance. Mortgage insurance generally relates to loans that are backed by the Federal Housing Administration (FHA) or private mortgage insurance (PMI) for conventional loans, which is distinct from flood insurance.

The NFIP includes standardized policy pricing to ensure consistency and affordability for consumers, coverage for flood-related home damage to protect property against flooding, and the regulation of flood insurance policies to maintain standards and compliance across the program. However, mandatory mortgage insurance is not a requirement of the NFIP and does not fall under its purview. Therefore, this option correctly identifies an aspect that the NFIP does not encompass.