MIPIM, one of the largest commercial real estate conferences in the world, is happening in Cannes, France, March 10-13th. NAR is hosting the USA Pavilion to increase awareness of commercial development opportunities in the US and to connect interested parties to NAR members. NAR has also negotiated a significant discount in registration fees for NAR members.
Fannie Mae will make Collateral Underwriter (CU), an appraisal risk-assessment tool, available to lenders in early 2015.
On December 16, 2014, the Senate passed H.R. 5771, the Tax Increase Prevention Act of 2014, by a vote of 76-16.
Despite having a bipartisan compromise bill, the Senate failed to reauthorize the Terrorism Risk Insurance Act (TRIA) before it adjourned for the remainder of the year, resulting in the program expiring on December 31, 2014.
NAR continues to push FHA to lower the mortgage premiums.
The Federal Emergency Management Agency (FEMA) recently announced the launch of the Interim Office of the Flood Insurance Advocate, led by the Acting Flood Insurance Advocate, David Stearrett. NAR strongly supported the creation of the Advocate's Office during congressional debate of the Homeowner Flood Insurance Affordability Act (HFIAA).