The House this week overwhelmingly approved the Flood Insurance Reform and Modernization Act of 2006. Among other things, the bill would raise premiums more quickly and increase fines for lenders that do not comply with flood insurance requirements. The House approved H.R. 4973 by a vote of 416-4. The focus now shifts to the Senate, where a flood insurance bill awaits a floor vote. The legislation approved earlier by the Senate Committee on Banking, Housing,…