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.
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.
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).
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).
Last month, the US Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2014-15 allowing dual agency agreements in FHA short sales.
On Tuesday Aug. 26, 2014 at 2:00 PM EDT the Consumer Financial Protection Bureau (CFPB) and Federal Reserve will be hosting a webinar on the implementation of changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA).
On Tuesday July 29, 2014, NAR met with the Consumer Financial Protection Bureau (CFPB) on the implementation of changes to the Real Estate Settlment Procedures Act (RESPA) and the Truth in Lending Act (TILA).
On July 23, 2014, NAR testified on flood insurance before a Senate appropriations subcommittee.
NAR plans to submit comments on the Federal Aviation Administration's (FAA) recent "Interpretation of the Special Rule for Model Aircraft", which specifically mentioned REALTORS® use of Unmanned Aerial Vehicles (UAVs) for taking property videos as being a commercial use and therefore prohibited under FAA policy.
NAR testified today before the U.S. Senate Appropriations Subcommittee on Homeland Security, commending FEMA for effective implementation of flood insurance reforms.