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Federal Government and 49 States Enter into $25 Billion Mortgage Servicing Settlement

February 13, 2012: 

On Thursday, February 9, 2012 the federal government and 49 states entered into a settlement dealing with the mortgage servicing issues emanating from the foreclosure crisis of the last few years including the "robo-signing" scandal.

Final Anti-Money Laundering Rule for Non-bank Lenders and Originators Released

February 13, 2012: 

On February 7, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury released a final rule that subjects nonbank residential mortgage lenders and originators to certain anti-money laundering (AML) regulations already applicable to other types of financial institutions.

HUD Removes Streamline Refinances from Lender Compare Ratio Calculation

February 13, 2012: 

Part of the Obama Administration’s announcement to help underwater homeowners includes the Streamline Refinance offered by the Federal Housing Administration (FHA).

House Subcommittee Passes FHA Bill

February 13, 2012: 

The Housing and Insurance Subcommittee of the House Financial Services Committee last week passed the " FHA Emergency Fiscal Solvency Act" (no bill number yet).

Jan. 25, 2012: Advancing the REALTOR® Agenda

February 13, 2012: 

In the latest President's Podcast, 2012 NAR President Moe Veissi highlights how the REALTOR® agenda is moving forward with the president focusing on housing in the State of the Union address, building a large turnout for the Midyear Meetings, completing the National Flood Insurance Program reauthorization, and developing our public policy priorities for the coming year at the REALTOR® Party Advocacy and Policy Conference.

Feb. 6, 2012: Keeping Home Ownership Affordable

February 6, 2012: 

President Moe Veissi discusses an important issue that could cause the cost of home ownership to increase, and why he is urging members to contact their member of Congress and tell them to do no harm to housing.

NAR Spearheads Industry Effort to Ensure RESPA/TILA Changes Work

February 6, 2012: 

On Friday, January 27, 2012, NAR submitted an industry letter to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray asking that the CFPB be more forthcoming in the underlying regulations governing the harmonization of disclosures and form under RESPA and TILA.

FHFA Seeks Applicants to Pre-qualify for REO to Rental Plan

February 6, 2012: 

On February 1 the Federal Housing Finance Agency (FHFA) announced that it is now accepting applications for investors who wish to bid on transactions in the initial pilot projects to be offered in the Obama Administration’s plan to expedite the disposition of foreclosed properties held by Fannie Mae, Freddie Mac, and FHA.

Fish and Wildlife Service to Increase Focus on Listing Species as Endangered

February 6, 2012: 

As a result of a court order in mid-2011, the U.S. Fish and Wildlife Service will emabrk on an aggressive push in 2012 to place more species on the endangered list, thereby placing more property out of development and increasing restrictions on property rights.

Obama Administration Unveils Plan to “Heal the Housing Market”

February 2, 2012: 

On February 1 President Obama, speaking to a crowd in Falls Church, Virginia, detailed his plan to “help responsible homeowners and heal the housing market.” The plan calls for streamlined refinancing for potentially millions of borrowers with loans backed by Fannie Mae and Freddie Mac, while also creating a new FHA mortgage program to re-finance non-GSE mortgages.

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