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Chris Matthews: Realtors® Should Expect Divided U.S. Government through 2016

May 14, 2014: 

The inability of the U.S. Congress to compromise on key issues such as immigration reform, healthcare and government spending will likely continue through President Obama’s second term.

Homeownership Won’t Be Casualty of Political Gridlock Strategists Tell Realtors®

May 13, 2014: 

Homeownership is expected to retain its political luster through the 2014 election cycle.

Committee Passes 3% Cap Bill

May 9, 2014: 

On Wednesday, May 7, 2014, The House Financial Services Committee passed H.R. 3211, "The Mortgage Choice Act" by voice vote.

Elimination of FHA “Prepayment Penalty”

May 9, 2014: 

On May 7, 2014, President Steve Brown sent a letter to Federal Housing Commissioner Carol Galante strongly supporting the proposed rule to eliminate Federal Housing Administration (FHA) post-payment interest charges.

FHA Reverse Mortgage Changes

May 2, 2014: 

On April 25, 2014, the U.S. Department of Housing and Urban Development (HUD) issued new guidance to ease requirements for non-borrowing spouses on FHA Home Equity Conversion Mortgages (HECM) issued on or after August 4, 2014.  The policy changes are in response to complaints from families that are being forced into foreclosure after inheriting a home following the death of a loved one.

CFPB Proposes 3% Cure

May 2, 2014: 

On Wednesday, April 30, 2014, The Consumer Financial Protection Bureau (CFPB) proposed to institute a "cure" mechanism for cases in which a lender inadvertently exceeds the 3% threshold on fees and points.

Progress on the 3% Cap

April 30, 2014: 

NAR President Steve Brown talks about a positive development on NAR’s concerns over how the 3% cap on points and fees in the qualified mortgage (QM) rule has been interpreted.

National Flood Insurance Program Effective May 1

April 30, 2014: 

Effective May 1, 2014, all buyers of older properties (“pre-FIRM”) will see a premium rate reduction under the Homeowner Flood Insurance Affordability Act of 2014.

CFPB Explores E-Closings

April 25, 2014: 

NAR participated in a Consumer Financial Protection Bureau (CFPB) public forum on electronic mortgage closings on April 23, 2014.

Private Transfer Fee Coalition Letter

April 25, 2014: 

On April 23, 2014, the National Association of REALTORS® signed onto a coalition letter urging the Federal Housing Administration (FHA) to harmonize its regulatory treatment of transfer fee covenants with the Federal Housing Finance Agency (FHFA).

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