On June 29, 2012, the Senate and House passed the Flood Insurance Reform Act as a part of H.R. 4348, the Surface Transportation Conference Report. Passage of this 5-year re-authorization brings certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage.
REALTORS® should familiarize themselves with the tax, but should not advise their clients about the application of the tax.
On Thursday, June 28th, the Supreme Court issued its decision on the constitutionality of the Affordable Care Act (ACA).
Overshadowed by the Supreme Court’s June 28 decision on the Affordable Care Act, the Court also reversed course and dismissed the appeal of First American Corporation in First American Financial Services v. Edwards challenging whether a claim alleging RESPA violations can be brought in the absence of actual financial injury to a plaintiff.
On June 28, 2012, Frank Gregoire testified before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity on behalf of the National Association of REALTORS® (NAR).
On Wednesday, June 27, the House Oversight and Government Reform Committee passed legislation that eases proposed limitations on government employee attendance at conferences, including those held by trade associations like NAR.