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Government Mandates Housing Fee Increases to Help Pay-for Benefits Extensions

January 16, 2012: 

At the conclusion of 2011, Congress passed and forwarded to the President for his signature the “Temporary Payroll Tax Cut Continuation Act of 2011”. The primary purpose of this legislation was to extend temporarily: (1) payroll tax relief, (2) unemployment compensation provisions, and (3) healthcare provisions. The estimated costs of the temporary extensions is $192.5 billion.

Supreme Court Hears Oral Arguments on Wetlands Case

January 16, 2012: 

The U.S. Supreme Court heard oral arguments in the Sackett v. U.S. EPA on January 9, 2012. The arguments presented by both lawyers elicited spirited discussion among the Justices. Experienced court watchers expect a decision in this case in late spring.

Decisions from the NAR Board of Directors

January 12, 2012: 

NAR's board approved changes to committees in a broad restructuring intended to position the association for the future. Learn what else was decided.

NAR Calls for Expansion of FHA’s 203(k) Program

January 9, 2012: 

Moe Veissi, the 2012 President of the National Association of Realtors, sent a letter to Shaun Donovan, Secretary of Housing and Urban Development (HUD) requesting that investors be permitted to participate in the Federal Housing Administration’s (FHA) Section 203(k) Rehabilitation Mortgage Insurance Program to purchase vacant and foreclosed properties in need of significant rehabilitation.

Government Offers to Review Foreclosure Handling in More than 4 Million Individual Cases

January 9, 2012: 

Borrowers who faced foreclosure in 2009 or 2010 may be eligible for a free independent review of their foreclosures. The reviews which were ordered by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve in April of 2011 cover foreclosures handled by most major loan servicers.

Former Ohio Attorney General Richard Cordray takes over Helm of CFPB

January 9, 2012: 

On Thursday, January 5, 2011, President Obama installed former Ohio Attorney General Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB) using a recess appointment.

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