NAR members recently received word that the U.S. Department of Housing & Urban Development would be implementing a new policy on Oct. 1, 2013, that would prevent dual agency agreements in FHA pre-foreclosure transactions.
NAR created the MVP Program to encourage members to take actions that will benefit NAR and its members, as well as to reward members for being an active participant in the Association.
On Sept. 18, 2013, a Senate Banking Subcommittee held the first hearing on implementation of the Biggert-Waters Flood Insurance Reform Act.
On Tuesday, September 17, 2013, NAR President Gary Thomas sent a letter to Federal Housing Finance Agency (FHFA) Acting Director Ed Demarco raising concerns about the continued attempts to increase cost and reduce access to conventional mortgages.
On September 18, 2013, NAR President Gary Thomas sent FHA Commissioner Galante a letter concerning HUD’s new policy preventing dual agency agreements in FHA pre-foreclosure transactions.
On September 19, the House Financial Services Committee held a hearing to examine the Terrorism Risk Insurance Act (TRIA) of 2002, which sunsets on December 31, 2014.