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FEMA To Release Streamlined Letter of Map Change Process

December 14, 2012: 

On Dec. 17, 2012, FEMA is launching the Online Letter of Map Change (LOMC) - a new way to submit a request to change a property’s flood zone designation.

CFPB Follows NAR Advice on Consumer Testing of RESPA/TILA Forms

December 14, 2012: 

On Thursday, Dec. 13, 2012, The Consumer Financial Protection Bureau (CFPB) announced its proposed policy to allow companies to test new consumer disclosures on a case-by-case basis.

Fiscal Cliff: What's at Stake for Real Estate

December 11, 2012: 

If Congress doesn't act, foreclosures will rise, home values will drop, and the FHA could get hit with another set of bad loans.

Senate Banking Committee Holds Hearing on FHA Audit

December 7, 2012: 

Last week, the Senate Banking Committee held a hearing entitled, "Oversight of FHA:  Examining HUD's Response to Fiscal Challenges".

NAR Urges Passage of the Small Business Lending Enhancement Act of 2012 and the Responsible Homeowner Refinancing Act of 2012

December 7, 2012: 

NAR, in coalition with the National Association of Home Builders, sent a letter to the United States Senate urging swift passage of S. 2231, the “Small Business Lending Enhancement Act of 2012,” sponsored by Senator Udall (D-CO) and S. 3522, the “Responsible Homeowner Refinancing Act of 2012,” introduced by Senators Menendez (D-NJ) and Boxer (D-CA).

House of Representatives Holds a Joint Hearing on Basel III Capital Standards

December 7, 2012: 

The House Subcommittee on Financial Institutions and Consumer Credit and the House Subcommittee on Insurance, Housing and Community Opportunity held a joint subcommittee hearing on “Examining the Impact of the Proposed Rules to Implement Basel III Capital Standards.”

NAR Supports the Commercial Building Modernization Act

December 7, 2012: 

NAR in coalition with other industry partners, sent a letter to the Senate Committee on Finance and the Senate Committee on Energy & Natural Resources in support of S. 3591, the Commercial Building Modernization Act (CBMA)

FTC Warns On Deceptive Mortgage Ads

December 7, 2012: 

The Federal Trade Commission (FTC) has issued warning letters to 20 companies, including real estate agents, home builders and lead generators, about possible violations of the Mortgage Acts and Practices Advertising (MAP) Rule.

FHA Temporary Waiver of Regulation on Property Flipping

November 30, 2012: 

FHA announced that it is extending the availability of the temporary waiver of its regulation 24 CFR 203.37a(b)(2) that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition.

Basel III Implementation Delayed

November 16, 2012: 

On Nov. 9, 2012, the Federal Reserve Board, the OCC, and the FDIC announced that proposed rules to implement the Basel III regulatory capital accords will not take effect on Jan. 1, 2013.

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