It all started when a school principal invited a few representatives of the Lexington-Bluegrass Association of REALTORS® to tour a single local elementary school. “After the tour, we were trying to think of a way to say thank you,” says Melissa Poynter, then chairman of the association’s professional standards committee. “Someone suggested we donate a book to the library.
On Thursday, June 5, 2014, NAR submitted comments on the Consumer Financial Protection Bureau's (CFPB) proposal to implement a limited cure provision for loans that exceed the 3% cap on fees and points under the Qualified Mortgage (QM) safe harbor.
On June 6, 2014, NAR President Steve Brown submitted comments to five federal agencies in response to a proposed rule on minimum requirements for appraisal management companies (AMCs).
On June 4, 2014, NAR submitted comments to the Federal Housing Administration (FHA) on its supplemental lender performance metric. NAR hopes this new tool will encourage lenders to loosen credit overlays and ease the fear of back-end enforcement actions by FHA.
On May 30, 2014, FEMA announced the Flood Premiums and Rate Tables for 2015.
On Tuesday, June 3, the Senate Banking Committee held a mark up hearing of S. 2244, Senator Schumer’s Terrorism Risk Insurance Act (TRIA) reauthorization bill. In a strong showing of support, the bill was unanimously approved by the Committee. NAR sent a letter of support for the bill to all the members of the Committee, and urged those Senators who had not already to cosponsor it.