The Real Estate Services (RES) Update is designed to keep diversified real estate firms and their agents informed about issues impacting their businesses. This monthly newsletter includes legislative and regulatory updates, news on industry trends, and the latest information on NAR activities as they affect diversified real estate firms.
On December 9, 2014, the U.S. Senate Banking Subcommittee on Housing, Transportation, and Community Development held a hearing entitled, “Inequality, Opportunity, and the Housing Market.”
On December 11, 2014 NAR held a webinar on changes to the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
On December 10, 2014, the U.S. Department of Veterans Affairs (VA) released its 2015 Loan Limits.
On December 8, 2014, Fannie Mae and Freddie Mac released details on new mortgage product offerings that will provide access to qualified borrowers able to put down at least 3%.
On December 10, 2014, the Federal Housing Administration (FHA) announced that it will not extend the temporary waiver of FHA’s regulation that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition.
The House Committee on Transportation’s Subcommittee on Aviation held a hearing this week on “U.S. Unmanned Aircraft Systems: Integration, Oversight and Competitiveness."