The US Government Accountability Office (GAO) released their report on real estate appraisals “Appraisal Subcommittee Needs to Improve Monitoring Procedures” as required per Dodd-Frank.
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This week the National Association of REALTORS® (NAR) met with senior staff for the US Department of Housing and Urban Development’s (HUD) Real Estate Owned (REO) Department.
At the conclusion of 2011, Congress passed and forwarded to the President for his signature the “Temporary Payroll Tax Cut Continuation Act of 2011”. The primary purpose of this legislation was to extend temporarily: (1) payroll tax relief, (2) unemployment compensation provisions, and (3) healthcare provisions. The estimated costs of the temporary extensions is $192.5 billion.
The U.S. Supreme Court heard oral arguments in the Sackett v. U.S. EPA on January 9, 2012. The arguments presented by both lawyers elicited spirited discussion among the Justices. Experienced court watchers expect a decision in this case in late spring.
In the 111th Congress, the U.S. House of Representatives approved H.R. 2454, the American Clean Energy and Security Act by Reps. Waxman (D‐CA) and Markey (D‐MA).
Following NAR's long‐standing policy to only take a position on legislation, or provisions within legislation that have a direct effect on real estate, NAR worked with our Congressional allies to strip the Energy Bill of provisions that would have adversely affected our industry. The bill died in the Senate in 2010 and is not likely to be reintroduced this Congress.