Washington Report

Advocacy Updates from Washington D.C.

NAR Supports Housing Opportunity Legislation

Last week NAR 2015 President Chris Polychron testified before the Housing and Insurance Subcommittee of the House Financial Services Committee.  The hearing focused on H.R. 3700, the "Housing Opportunity Through Modernization Act of 2015," which NAR supports.  This legislation includes a number of provisions to ease the sale and purchase of condominiums with FHA mortgage insurance.  President Polychron spoke about the benefits of easing the recertification process; reducing the owner/occupancy ratio; streamlining the process of approval for buildings with more than 25% commercial space; and conforming FHA's rules on private transfer fees to FHFA.  There appeared to be general support for the bill, and its provisions.  NAR is urging the committee to quickly consider this legislation and will continue to work for its passage.

HR 3700, the "Housing Opportunity Through Modernization Act of 2015"

NAR Press Release

NAR Letter of Support for HR 3700

NAR Testimony

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.

Advertisement