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Flood Insurance Subsidies Phasing Out

April 4, 2013: 

The federal government is phasing out some flood insurance premium subsidies for certain properties. Learn about which properties are affected, why, and where to learn more.

Strict Zoning May Increase Foreclosure Risk

April 1, 2013: 

A study finds communities that zoned too strictly for the development of large, single-family homes are at greater risk for foreclosure than areas that accommodate a wider range of housing options.

Indian Home Loan Guarantees Restarted

March 29, 2013: 

After a brief suspension of activity caused by HUD running out of funding for the program, the Section 184 Indian Home Loan Guarantee program was restarted on March 27, 2013.

NAR Hosts E-Signature Summit

March 29, 2013: 

On March 21, NAR played host to a gathering of representatives of government, REALTORS®, major lenders and e-signature service providers to discuss the slow and spotty acceptance of electronic signature technology in daily real estate business.

USDA Releases Census Data Guidance

March 29, 2013: 

On March 27, 2013, the U. S. Department of Agriculture Office of Rural Development issued Administrative Notice (AN) 4711 regarding the use of 2010 Census data in the administration of direct loan, loan guarantee and grant programs across Rural Development programs.

Federal Housing Finance Agency Securitization Platform

March 25, 2013: 

In September 2008, the Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) into conservatorship.

Congress Grants Extension for Rural Communities

March 22, 2013: 

Last week Congress passed the Continuing Resolution, which funds the government for remainder of the fiscal year.

HUD Advises FHA Users of Possible Processing Delays

March 15, 2013: 

In an official letter to lenders, HUD Assistant Secretary and FHA Commissioner Carol Galante has advised of possible FHA mortgage processing delays due to the sequestration of 2013 funding which began March 1.

NAR Urges IRS to Recognize REALTORS® as Independent Contractors

March 15, 2013: 

On Friday, March 15, 2013, NAR submitted comments to the Internal Revenue Service in connection with proposed regulations published on January 2, 2013, interpreting the Shared Responsibility for Employers Regarding Health Coverage requirements of the Patient Protection and Affordable Care Act.

Fees and Points Bill Introduced

March 15, 2013: 

On Tuesday, March 12, 2013, Representatives Bill Huizenga (R-MI) and David Scott (D-GA) reintroduced the Consumer Mortgage Choice Act, H.R.1077.  The legislation addresses the definition of fees and points in a mortgage transaction under the Dodd-Frank Wall Street Reform and Consumer Protection Act.  The definition is critical to determine whether a mortgage is a Qualified Mortgage (QM) which requires that fees and point not exceed 3%.