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MSA Calculations Affect Loan Limits

March 21, 2014: 

On March 19, 2014, President Steve Brown wrote a letter to the Federal Housing Administration (FHA) about the significant drops in loan limits in some areas with revised Metropolitan Statistical Area (MSA) determinations.

NAR Submits Comments On Loan Limits

March 21, 2014: 

On March 20, 2014, NAR President Steve Brown submitted comments on the Federal Housing Finance Agencies (FHFA) request for information on lowering the loan purchase limits for Fannie Mae and Freddie Mac (the Enterprises).

RESPA 3 Day Waiting Period

March 21, 2014: 

The Consumer Financial Protection Bureau (CFPB) listened to NAR in producing the new RESPA/TILA rule.

IRS Seeking Taxpayer Advocacy Panel Members

March 21, 2014: 

The Internal Revenue Service is seeking volunteers to serve on the Taxpayer Advocacy Panel (TAP).

Brown Meets At White House on GSE Reform

March 21, 2014: 

NAR President Steve Brown met with HUD Secretary Shaun Donovan and the head of the National Economic Council on the reform of the secondary mortgage market.

Help Passed on Flood Insurance Rates

March 14, 2014: 

In this short video, NAR Senior Policy Representative Austin Perez explains how the bill will impact the flood insurance rates paid by homeowners.

Flood Bill Helps Commercial

March 14, 2014: 

NAR Senior Policy Representative Austin Perez and NAR Legislative Policy Representative Erin Stackley discuss the impact that the new flood insurance law will have on commercial properties.

Internet Sales Tax Hearing

March 14, 2014: 

On March 12, the House Judiciary Committee held a full committee hearing on "Exploring Alternative Solutions on the Internet Sales Tax Issue." During the hearing, Members on the committee and the witnesses, who included a representative from shopping mall owners/operators, tax attorneys, and former U.S.

Proposed Elimination of FHA “Prepayment Penalty”

March 14, 2014: 

On March 13, 2014, the Department of Housing and Urban Development (HUD) issued a proposed rule to eliminate Federal Housing Administration (FHA) post-payment interest charges. The policy change would prohibit mortgagees from charging borrowers interest on their home mortgages for days or weeks after a principal balance pay-off. The proposed rule will align HUD policy with the Consumer Financial Protection Bureau’s Final Qualified Mortgage Rule.

FHA Short Sale Dual Agency

March 14, 2014: 

Some NAR members have received communications from servicers, such as Bank of America, that dual agency is not allowed in FHA short sales transactions.  This is not correct.

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