On April 2, 2014, President Steve Brown sent a letter to the Department of Housing and Urban Development (HUD) with concerns about the Federal Housing Administration’s (FHA) high annual mortgage insurance premiums and mortgage insurance that is required for the life of the loan.
NAR President Steve Brown met with the Director of the National Flood Insurance Program on April 1, 2014 to discuss issues related to implementing the Homeowner Flood Insurance Affordability Act (HFIAA) that was recently signed into law.
On Monday March 31, 2014 the CFPB issued its RESPA/TILA small business compliance guide.
The Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers (Army Corps) ( “the agencies”) published a proposed rule on March 25, 2014 that seeks to clarify which streams, wetlands and other waters are considered “waters of the United States” (WOTUS) and subject to regulation under the Clean Water Act (CWA).
On March 24, 2014, six federal agencies issued a joint proposed rule to implement minimum requirements for state registration and supervision of appraisal management companies (AMCs).
NAR President Steve Brown thanks REALTORS(R) for stepping up to encourage lawmakers to pass legislation that eases drastic flood insurance rate hikes. President Obama has now signed the bill into law.
On March 21, 2014, President Obama signed the “Homeowner Flood Insurance Affordability Act” into law.
On March 19, 2014, President Steve Brown wrote a letter to the Federal Housing Administration (FHA) about the significant drops in loan limits in some areas with revised Metropolitan Statistical Area (MSA) determinations.
On March 20, 2014, NAR President Steve Brown submitted comments on the Federal Housing Finance Agencies (FHFA) request for information on lowering the loan purchase limits for Fannie Mae and Freddie Mac (the Enterprises).
The Consumer Financial Protection Bureau (CFPB) listened to NAR in producing the new RESPA/TILA rule.