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Home Affordable Foreclosure Alternatives Program (HAFA)

September 12, 2014: 

In 2009, the Treasury Department introduced the Home Affordable Foreclosures Alternatives (HAFA) program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program took effect on April 5, 2010 and sunsets on December 31, 2015.

HAFA is primarily designed for borrowers (no longer just owner occupants) with a documented hardship who do not qualify for a loan modification under the Home Affordable Modification Program (HAMP) or other program.

NAR Participates in FAA Working Group

September 12, 2014: 

NAR has been invited to participate in a Federal Aviation Administration (FAA) working group on Unmanned Aerial Systems (UASs). NAR will educate FAA officials on how REALTORS® are interested in utilizing this technology safely and responsibly. Currently, the FAA prohibits the use of UASs for any commercial purpose, such as creating a video to sell property. The FAA is on track to propose regulations that will establish a timeframe for integrating small UASs into the national airspace. NAR supports regulations that would allow members to use this technology safely but that are not overly cumbersome or expensive.

NAR Submits Comments to FHFA on G-Fees

September 12, 2014: 

On September 8, 2014, NAR submitted comments to FHFA in response to its Request for Input on the guarantee fees (g-fees) that Fannie Mae and Freddie Mac (the government-sponsored enterprises or Enterprises) charge lenders; and to raise concerns about implementation of the proposed increases to both the g-fee and up-front fees charged to borrowers (loan level pricing adjustments or LLPAs). 

NAR Submits Comments to FHFA on PMIERs

September 12, 2014: 

On September 8, 2014, NAR submitted comments to FHFA on its proposed draft Private Mortgage Insurer Eligibility Requirements (PMIERs) for companies that insure mortgage loans owned or guaranteed by Fannie Mae and Freddie Mac. The proposed requirements are important to NAR members as private mortgage insurance is often required for borrowers with down payments less than 20 percent. In its letter, NAR focused on three points:

House Opposes Clean Water Act Over-Regulation

September 12, 2014: 

On September 9, 2014, the House voted 262-152 to pass HR 5078, the ‘Waters of the U.S.’ Regulatory Overreach Protection Act by Reps.

Rural Housing Loan Processing Delays

September 11, 2014: 

Many states have experienced delayed processing times for the Single Family Rural Housing Direct and Guaranteed Loan Programs.

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