The Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers (The Corps) have issued a proposed rulemaking that redefines most water bodies as "waters of the U.S.,” which is a fundamental change to the Clean Water Act. If promulgated, this proposed regulation would place more water bodies under the authority of the EPA and the Corps, which would result in more time consuming and expensive permits, regulatory red tape, and less economic development in communities across the country.
The purpose of this fact sheet and suggested voluntary guidelines is to increase real estate professionals’ awareness, knowledge, and understanding of the potential money laundering risks surrounding real estate and enable them to identify practical measures to mitigate the risks.
On December 16, 2014, the Senate passed H.R. 5771, the Tax Increase Prevention Act of 2014, by a vote of 76-16.
Despite having a bipartisan compromise bill, the Senate failed to reauthorize the Terrorism Risk Insurance Act (TRIA) before it adjourned for the remainder of the year, resulting in the program expiring on December 31, 2014.
NAR continues to push FHA to lower the mortgage premiums.
The Federal Emergency Management Agency (FEMA) recently announced the launch of the Interim Office of the Flood Insurance Advocate, led by the Acting Flood Insurance Advocate, David Stearrett. NAR strongly supported the creation of the Advocate's Office during congressional debate of the Homeowner Flood Insurance Affordability Act (HFIAA).