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NAR Comments on Housing Finance Reform

August 15, 2014: 

On Aug. 8, 2014, NAR President Steve Brown provided comments to the U.S. Department of Treasury in response to a request for Public Input on Development of Responsible Private Label Securities (PLS) Market.

CFPB issues $19.3 million Fine

August 15, 2014: 

On Aug. 12, 2014, the Consumer Financial Protection Bureau (CFPB) announced a consent agreement and $19.3 million in fines under the Real Estate Settlement Procedures Act (RESPA) and other laws with Amerisave Mortgage Corporation, its affiliate, Novo Appraisal Management Company, and the owner of both companies, Patrick Markert.

Fannie Modifies Post Short Sale Qualifications

August 15, 2014: 

On July 29, 2014, Fannie Mae announced changes to its waiting period policy following a preforeclosure sale (short sale) or deed-in-lieu of foreclosure (DIL).

FHFA Seeks Input on Single Security for Fannie, Freddie

August 15, 2014: 

On Aug. 12, 2014, the Federal Housing Finance Agency (FHFA), the regulator of Fannie Mae and Freddie Mac, published a proposed framework for how the two mortgage-finance companies might issue and back a single-type of mortgage-backed security (MBS).

FHA Short Sales Update

August 14, 2014: 

Last month, the US Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2014-15 allowing dual agency agreements in FHA short sales.

Franchisor May be Included in Labor Violation Disputes

August 14, 2014: 

The National Labor Relations Board has authorized naming franchisor giant McDonald’s USA as a respondent in complaints for labor violations allegedly occurring in franchisees’ restaurants.

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