After three years of strong opposition from NAR, congressional leaders, and consumer and industry groups, the six financial regulators released the final version of the long-awaited qualified residential mortgage (QRM) rule.
The Environmental Protection Agency (EPA) and the U.S. Army Corps of Engineers (The Corps) have issued a proposed regulation that would place more water bodies under federal authority, which would result in more property rights violations, more time consuming and expensive permits, more regulatory red tape, and less economic development in communities across the country.
On Wednesday October 29, 2014 NAR submitted comments to the Consumer Financial Protection Bureau (CFPB) on changes to the Real Estate Settlment Procedures Act (RESPA) and the Truth in Lending Act (TILA) rule. CFPB has proposed giving lenders a full day to redisclouse the loan estimate when the loan is locked in.
The 2014 NAR Legislative and Regulatory Year in Review document gives you a quick overview of the issues NAR tackled in 2014.
Regulators released a joint proposed rule today that would require lenders to escrow flood insurance payments and eliminate mandatory insurance requirements for structures that are detached from a primary residence.
NAR applauds the Federal Deposit Insurance Corporation for finalizing the Qualified Residential Mortgage rule today.
The mortgage financing environment for households could improve as a result of QRM rules requiring no down payment, as NAR sought.
NAR recently met with Federal Aviation Administration (FAA) officials to discuss NAR's concerns and perspectives regarding the upcoming proposed rulemaking to regulate small Unmanned Aerial Vehicles (UAVs).
On Oct. 13, 2014, NAR submitted comments on the Federal Housing Finance Agencies proposal to create a Single Security that could be guaranteed by either Fannie Mae or Freddie Mac (the government-sponsored enterprises or GSEs).
Funding for Rural Development’s Single Family Housing Guaranteed Loan program is now available for fiscal year (FY) 2015.