NAR continues to push FHA to lower the mortgage premiums.
The Federal Emergency Management Agency (FEMA) recently announced the launch of the Interim Office of the Flood Insurance Advocate, led by the Acting Flood Insurance Advocate, David Stearrett. NAR strongly supported the creation of the Advocate's Office during congressional debate of the Homeowner Flood Insurance Affordability Act (HFIAA).
The Fiscal Year 2015 Omnibus Appropriations bill contained a provision which prohibits HUD, FHA, or Ginnie Mae's involvement in the eminent domain scheme developed by Mortgage Resolution Partners and considered by more than a dozen municipalities across the country.
Session had mixed results for REALTORS®.
The U.S. Senate’s alarming failure to renew the federal terrorism risk insurance program before adjournment will stall commercial real estate development around the country.
The package of tax extensions approved by Congress includes important provisions that will help distressed homeowners and commercial property investors with transactions made during 2014.
On December 9, 2014, the U.S. Senate Banking Subcommittee on Housing, Transportation, and Community Development held a hearing entitled, “Inequality, Opportunity, and the Housing Market.”
On December 11, 2014 NAR held a webinar on changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
On December 10, 2014, the U.S. Department of Veterans Affairs (VA) released its 2015 Loan Limits.
On December 8, 2014, Fannie Mae and Freddie Mac released details on new mortgage product offerings that will provide access to qualified borrowers able to put down at least 3%.