On Oct. 16, the House of Representatives passed a bill ending the shutdown of the federal government. The bill was passed by the Senate earlier in the day. President Obama has signed the bill into law.
Ginnie Mae President Ted Tozer sits down with NAR Vice President Joe Ventrone to explain why a continued federal role in the secondary market is key to a successful mortgage finance system in the U.S.
Sixty-six Members of the House of Representatives weighed in with FHFA Acting Director DeMarco urging him not to lower the Freddie Mac and Fannie Mae loan limits.
NAR, along with the Mortgage Bankers Association, the National Association of Home Builders, and others, urged the FHFA in a recent letter to regulators to delay its proposal to reduce the loan limits.
NAR testified today before the Senate Committee on Banking, Housing and Urban Affairs that defaulting on the nation's federal debt could be disastrous for the U.S. economy and catastrophic for the housing recovery.
13 Senators last week sent a letter to FHFA Acting Director DeMarco urging him not to lower the Freddie Mac and Fannie Mae loan limits.
Earlier this past summer, NAR President Gary Thomas appointed a Presidential Advisory Group (PAG) to investigate the impacts that federal legisation passed last year to reform the National Flood Insurance Program (NFIP) will have on the real estate industry and property owners.
NAR President-elect Steve Brown explains the impact of the Oct. 1 federal government shutdown on programs important to real estate. Fannie Mae, Freddie Mac, FHA, and the federal flood insurance program are among the programs Brown discusses.
On September 27th, FHA announced that it would take a $1.7 billion draw from the Treasury to meet their 30-year reserve requirement.
The Department of Housing and Urban Development (HUD) will delay its proposal to prevent dual agency agreements in FHA pre-foreclosure transactions.