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Congress Reauthorizes Flood Insurance for 5 Years

June 29, 2012: 

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.

3.8% Tax Will Go Into Effect in 2013

June 29, 2012: 

REALTORS® should familiarize themselves with the tax, but should not advise their clients about the application of the tax.

Supreme Court Upholds the Constitutionality of the Health Reform Law

June 29, 2012: 

On Thursday, June 28th, the Supreme Court issued its decision on the constitutionality of the Affordable Care Act (ACA).

Supreme Court Dismisses First American RESPA Appeal

June 29, 2012: 

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.

NAR Testifies Before House Subcommittee on Appraisal Issues

June 29, 2012: 

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).

The House Oversight and Government Reform Committee Passes the GSA Act of 2012

June 29, 2012: 

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.

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