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Congress Extends Flood Insurance for 60 days

June 1, 2012: 

On May 30, 2012, the House of Representatives passed a 60-day extension of the National Flood Insurance Program (NFIP).

NAR Supports Pilot Program to Incentivize Counseling

June 1, 2012: 

NAR sent a letter to Rep. Karen Bass (D-CA) supporting the "Homeownership Preservation Education Act of 2012".

NAR Calls on VA to Implement 203(k) Renovation Pilot Program

June 1, 2012: 

The National Association of REALTORS® (NAR) President Moe Veissi sent a letter to the US Department of Veterans Affairs (VA) Secretary Eric Shinski asking the agency to offer a Veterans Renovation Pilot Program similar to the Federal Housing Administration’s (FHA) 203(k) Program.

CFPB Issues Loan Officer Compensation and Fees and Points Proposal (and real estate commissions)

June 1, 2012: 

On May 23, 2012, The Consumer Financial Protection Bureau CFPB held a small business review panel to evaluate proposed changes to the Federal Reserve’s Loan Officer Compensation Rule as well as offer alternatives as to how borrowers can be charged fees and points.

CFPB Delays Qualified Mortgage to Get More Data

June 1, 2012: 

On Thursday May 31, 2012, the Consumer Financial Protection Bureau (CFPB) announced that it would be seeking additional information on loan performance with regard to Debt to Income (DTI) ratios and a few other factors.

Contested Application Procedures for New Board Formation and/or Release of Jurisdication

May 30, 2012: 

The following procedures are used by the Membership Policy and Board Jurisdiction Committee to process applications for new board status or applications for change of jurisdiction when the requested territory is presently assigned to another board and the board is unwilling to voluntarily release the territory.

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