NAR Urges Passage of the Small Business Lending Enhancement Act of 2012 and the Responsible Homeowner Refinancing Act of 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).
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 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)
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 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.
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.
While the passage of flood insurance is good news, reforms mean practitioners will need to come up to speed on changes.
During the 2012 REALTORS® Conference & Expo in Orlando, 2012 President Moe Veissi reflected on a year of great accomplishments for the association.
On Wednesday, Oct. 24, 2012, NAR submitted comments to the Consumer Financial Protection Bureau (CFPB) on the CFPB's strategic plan for the next five years.
On Oct. 22, 2012, NAR filed individual and joint comments on proposed banking capital standards and risk weighting proposals as part of the Basel III rulemaking by the Federal Reserve, OCC, and FDIC.