Lenders would be facing stiffer penalties if they fail to enforce mandatory flood insurance requirements under a bill that is fast gaining traction in Congress. The House overwhelmingly approved the “Flood Insurance Reform and Modernization Act of 2006” last week by a vote of 416-4. The bill, H.R. 4973, would raise flood insurance premiums more quickly and impose annual fines of up to $1 million on lenders that fail to enforce federal flood…