For many teachers, the cost of owning a home or even renting an apartment near the schools where they work is nearly impossible because of the mismatch between teacher salaries and the high cost of housing. It’s a problem that makes it difficult for some communities to attract and retain teachers.
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.