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How Does the Government Shutdown Affect Real Estate?

October 1, 2013: 

NAR President-elect Steve Brown explains the impact of the Oct. 1 federal government shutdown on programs important to real estate. Fannie Mae, Freddie Mac, FHA, and the federal flood insurance program are among the programs Brown discusses.

FHA Takes Draw From Treasury

September 27, 2013: 

On September 27th, FHA announced that it would take a $1.7 billion draw from the Treasury to meet their 30-year reserve requirement.

FHA Short Sales Policy Update

September 27, 2013: 

The Department of Housing and Urban Development (HUD) will delay its proposal to prevent dual agency agreements in FHA pre-foreclosure transactions.

Bill Exempts Condos from ILSA

September 27, 2013: 

On Thursday, September 26, the House of Representatives passed H.R. 2600, the “Interstate Land Sales Disclosure Act of 2013,” sponsored by Rep. Carolyn Maloney (D-NY), by a vote of 410-0.

HUD Removes Dual Agency Restrictions

September 25, 2013: 

NAR members recently received word that the U.S. Department of Housing & Urban Development would be implementing a new policy on Oct. 1, 2013, that would prevent dual agency agreements in FHA pre-foreclosure transactions.

Senate Committee Holds Flood Insurance Hearing

September 20, 2013: 

On Sept. 18, 2013, a Senate Banking Subcommittee held the first hearing on implementation of the Biggert-Waters Flood Insurance Reform Act.

NAR Sends Letter to FHFA on Loan Limits

September 20, 2013: 

On Tuesday, September 17, 2013, NAR President Gary Thomas sent a letter to Federal Housing Finance Agency (FHFA) Acting Director Ed Demarco raising concerns about the continued attempts to increase cost and reduce access to conventional mortgages.

FHA Short Sales Policy Change

September 20, 2013: 

On September 18, 2013, NAR President Gary Thomas sent FHA Commissioner Galante a letter concerning HUD’s new policy preventing dual agency agreements in FHA pre-foreclosure transactions.

House Hearing on TRIA Reauthorization

September 20, 2013: 

On September 19, the House Financial Services Committee held a hearing to examine the Terrorism Risk Insurance Act (TRIA) of 2002, which sunsets on December 31, 2014.

EPA Submits Proposed Water Rule to OMB

September 20, 2013: 

On September 17, 2013, the Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers (Army Corps) announced a joint proposed rule that purports to clarify which streams, wetlands and other waters are “waters of the United States” and subject to jurisdiction under the federal Clean Water Act (CWA).

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