On December 27, 2011, NAR President Moe Veissi submitted NAR’s comments to the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs)) on future mortgage servicing structures and servicing compensation for single-family loans to enhance competition in mortgage servicing and origination.
Attorney Ben Pleune discusses the revised law and how those changes may affect the real estate industry.
Despite much legislative attention to government-sponsored enterprise reform, as evidenced by the three dozen Congressional bills dealing with Fannie Mae and Freddie Mac introduced in 2011, none had made it out of full committee by early December. Furthermore, action on GSE reform is unlikely before the 2012 elections, says Douglas M. Bibby, president of the National Multi Housing Council in Washington, D.C., an advocacy organization for the apartment industry.
In this issue: FHA Extends Anti-Flipping Waiver through 2012; Housing Taxed to Pay-for Extension of Existing Tax, Medicare, and Unemployment Benefits.
In this issue: NFIP Extended Until May 12; NAR President Veissi Meets with FHA; CFPB Issues Second Round of Proposed Closing Documents; CFPB Sets Up Mortgage Complaint Hotline; NTSB Urges States to Ban Use of Electronics While Driving
In this issue: Limited Time to Appeal FHA Loan Limits; NAR Supports Bill for Homeless Children; NAR Supports Making Investor Visa Regional Center Program Permanent; NAR Signs onto Accounting Coalition Letter; House Subcommittee Passes RESPA Home Warranty Clarification Act; Rural Development Announces Fee Changes for Refinance Mortgages.
The National Association of Realtors® supports legislation introduced today that provides sensible reform of the secondary mortgage market and protects the interest of taxpayers.
Reforming the secondary mortgage market is essential to ensuring a reliable source of mortgage lending for consumers in all types of markets and is integral to the nation’s economic and housing recovery.