On Monday, July 9, 2012, The Consumer Financial Protection Bureau (CFPB) issued the long awaited RESPA/TILA harmonization proposal. The proposal, at 1,100 pages is far more ambitious than simplifying and combining the Good Faith Estimate (GFE) and Truth in Lending (TIL) disclosures given to consumers upon application for a mortgage as NAR advocated.
During the week of July 9, 2012, the House Agriculture Committee considered the 2012 Farm Bill. A similar bill passed the Senate last month, and included a provision to grandfather existing communities elibigle for rural housing programs. Rep. Fortenberry (R-NE) offered an amendment in the House markup to grandfather existing rural housing communities.