FHA Commissioner Carol Galante testified before the House Financial Services Committee last week. Her testimony focused on the critical role that FHA has been taking in the housing recovery. She also acknowledged FHA's financial woes, and explained the variety of things FHA has been doing to stabilize the Fund.
On Jan. 1, 2013, the National Flood Insurance Program (NFIP) began phasing out the rate subsidies for the vast majority of older properties. The 2012 Biggert-Waters law (which extended the NFIP for 5 years) requires that subsidized rates increase in steps of 25% per year until the affected owners are paying the full cost for flood insurance. Passage of this law was essential to ensure that all properties, including second/vacation homes, would continue to have access to comprehensive coverage under the NFIP.
NAR offers free public advocacy campaign materials for associations.
In January, NAR released its annual Public Policy Survey. The survey asks REALTORS® to share which issues are most important to them. 2013 NAR President Gary Thomas shares the results in his podcast.
Habitat for Humanity released its 2013 Shelter Report earlier this week and as part of its release it joined NAR and the REALTOR® University Research Center to host a discussion on how moderate-income households are faring in the housing market now that the recession is behind us.
Join the Hangout on April 9, from 11 a.m. to noon EST, and watch live as representatives from the Veterans Administration, Veterans United, and REALTORS® discuss the benefits of VA loans and the process for obtaining them.
Your clients share a great deal of sensitive personal information with you—it is important to your business to properly protect that data and NAR has created resources to help.
Get news and background information on the issue of condominium approvals, including the latest on the FHA's effort to clarify, expand, consolidate and update existing guidance on the approval process for single family housing condos.
2013 NAR President Gary Thomas wishes REALTORS® a happy new year and asks all members to stay engaged during a busy year ahead for real estate.
NAR has been actively involved in shaping the debate and structure of the Qualified Mortgage (QM) Rule issued by the Consumer Financial Protection Bureau (CFPB) created by the Dodd-Frank Reform Act. NAR achieved a significant victory in obtaining a safe harbor in the QM rule for loans underwritten to the automated standards of Fannie Mae/Freddie Mac, the Federal Housing Authority, Veterans Administration and Rural Housing Service (within their respective loan limits) for up to seven years.