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.
On Monday, July 9, 2012, NAR joined the Consumer Mortgage Banking Project (CMBP) in responding to the Consumer Financial Protection Bureau (CFPB) request for additional information and data in developing the Qualified Mortgage (QM) test.
Realtors® Testify Broad Qualified Mortgage is Critical to Bringing Certainty to Housing Finance System
On July 11, 2012, the National Association of Realtors® testified before Congress, urging development of broadly defined Qualified Mortgage (QM) regulation.
“As the nation’s leading advocate for home ownership and housing issues, we are pleased that Congress has approved a long-term reauthorization of the National Flood Insurance Program, which ensures access to affordable flood insurance for millions of home and business owners across the country,” said NAR President Moe Veissi.
REALTOR® magazine explains five reasons that make the National Flood Insurance Program's reauthorization an achievement for home owners, the economy, flood plain mapping, and more.
NAR President Moe Veissi explains why NAR's messages to Congress about RESPA/TILA are important: home buyers need to understand every step of the process, and REALTORS want to avoid duplicative paperwork.
This field guide highlights basics, perceived pros and cons, IRS rules, and more to get you up-to-speed on this widely-debated tax deduction.
NAR President Moe Veissi: I recently met with folks from the Consumer Financial Protection Bureau including Rich Cordray, who heads up the CFPB. They are forming brand new committee and looking to include REALTORS®.