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NAR Submits Comments on Consumer Privacy Framework

April 2, 2012: 

On March 26, NAR submitted comments to the National Telecommunications and Information Administration (NTIA) on the Administration’s recently release Consumer Privacy Framework.

Lawmakers Raise Concerns on PCCRA

April 2, 2012: 

On March 26, 2012, Reps. Bachus (R-AL) and Garrett (R-NJ) issued a letter expressing concern to six banking agencies regarding their risk retention proposal, which contained a requirement that securitizers set aside the profits from sales of securities in a “premium capture cash reserve accounts” (PCCRAs).

Property Management Firm Pays $15,000 Fine Following Data Breach

April 2, 2012: 

On March 21st the Massachusetts Attorney General announced that a property management firm was fined $15,000 after the theft of a company laptop containing the personal information of over 600 Massachusetts residents.

Congress Extends Flood Insurance for 60 days

April 1, 2012: 

On May 30, 2012, the House of Representatives passed a 60-day extension of the National Flood Insurance Program, which will enable the Senate to act on the 5-year reauthorization and reform bill this June.

Are GSEs Rethinking Mortgage Principal Write-downs?

March 29, 2012: 

The Federal Housing Finance Agency is reportedly analyzing the feasibility and cost of principal mortgage reductions for some borrowers under a revamped Home Affordable Modification Program. If the FHFA starts granting mortgage write-downs, it would be viewed as a major reverse of course from an agency that has in the past opposed principal write-downs.

Housing Is ‘Awakening From Hibernation,’ Freddie Says

March 29, 2012: 

An improving economy is contributing to a gradual rebound in home prices across the country, according to mortgage giant Freddie Mac’s 2012 Economic Outlook report, released Wednesday. But there is still a way to go in the road to recovery for the housing market, the report noted.

March 27, 2012: Rally for Real Estate in Washington

March 27, 2012: 

NAR Treasurer Bill Armstrong explains why REALTORS in the commercial sector need to be at the Rally to Protect the American Dream, taking place on May 17, in Washington, D.C.

House Subcommittee Considers Duplication in Federal Housing Programs

March 26, 2012: 

The Rural Development Subcommittee of the House Agriculture Committee this week held a hearing on "duplicative federal rural development programs".

Supreme Court Unanimously Decides in Favor of Property Rights in Sackett v. EPA

March 26, 2012: 

The U.S. Supreme Court handed private property owners a victory with a unanimous decision on March 21 allowing a couple to appeal an EPA ruling that their property contains a wetlands.

Senate Passes Two-Year Surface Transportation Authorization Bill

March 19, 2012: 

By a 74-22 vote, the Senate passed on March 14 a long-term surface transportation authorization known as "MAP-21" ("Moving Ahead for Progress in the 21st Century"). The bill largely maintains current funding levels for federal transportation programs over the next two years, with some changes to program structures and policies.

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