NAR hosted dozens of organizations in the Coalition for Sensible Housing Policy this week to discuss three proposed rules that could dramatically alter the Home Mortgage Financing Market. REALTOR® magazine explains the regulations and how they could increase the disparity between wealthy and less-affluent home owners.
On July 26, 2012, NAR President Moe Veissi submitted comments to the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs)) on the proposed GSE affordable housing goals for 2012-2014.
On July 26, 2012, a coalition of organizations, including NAR, submitted comments to regulators regarding the proposed Basel III capital rules.
The goal of the e-mail campaign is to increase consumer awareness about what makes widespread home ownership possible. Association Executives can read the complete Frequently Asked Questions for details, and share it with REALTORS® who ask about the campaign.
The week of July 16, the Federal Housing Administration (FHA) announced the expansion of the Distressed Asset Sale Program (DASP).
On July 9, 2012, NAR President Moe Veissi submitted comment to the Consumer Financial Protection Bureau (CFPB) on its outline of proposals for future mortgage servicing rulemaking.
The EPA is required to develop regulations that establish lead safe work practices for renovation, repair and painting (RRP) activities for commercial and public buildings, and the date was recently pushed back a second time, to Sept. 15, 2012.
A proposed bill may soon help speed up the approval process for homeowners selling their home through short sale by requiring subordinate lien holders to review and respond to short sale requests within 45 days.
Scott Louser, NAR 2012 Vice President and Liaison to Government Affairs testified on Capitol Hill this week about the importance of keeping mortgages safe and affordable for qualified buyers. He shares more about it on the Voices of Real Estate blog.
On Monday, July 9, 2012, The Consumer Financial Protection Bureau (CFPB) issued the long awaited RESPA/TILA harmonization proposal. The proposal, at 1,100 pages is far more ambitious than simplifying and combining the Good Faith Estimate (GFE) and Truth in Lending (TIL) disclosures given to consumers upon application for a mortgage as NAR advocated.