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The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Government Affairs policy staff. To receive this content via email, subscribe to NAR's Weekly Report newsletter and check the "legislative & regulatory issues" box.
Congress Approves Loan for Superstorm Sandy Flooding
On Jan. 4, 2013, Congress approved nearly a $10 Billion increase in the National Flood Insurance Program's borrowing authority for Superstorm Sandy (HR 41).
Real Estate Provisions in the "Fiscal Cliff" Bill
On Jan. 1 both the Senate and House passed H.R. 8, legislation to avert the “fiscal cliff.”
NAR Comments on FHA Interpretive Rule on Minimum Cash Investment Under the National Housing Act
On Dec. 28, 2012, NAR submitted comments to FHA on the interpretive rule regarding prohibited sources of minimum cash investment under the National Housing Act.
HUD Announces More Changes to FHA
In a letter to Senator Corker (R-TN) dated Dec.18, 2012, FHA announced additional changes to "rebuild the reserves of the Mutual Mortgage Insurance Fund."
NAR Comments on Gfee Increases
On Sept. 20, 2012, The Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs) proposed adjustments to the Guarantee fees charged by Fannie Mae and Freddie Mac for individual states where the GSEs estimated longer timelines and higher costs for completing foreclosures.
NAR Submits Comments on FHFA Securitization Platform
Earlier this year, the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs) released a white paper on the creation of a common secondary market securitization platform to begin the process of GSE Reform.