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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.

NAR Comments on 3% Cap

June 6, 2014: 

On Thursday, June 5, 2014, NAR submitted comments on the Consumer Financial Protection Bureau's (CFPB) proposal to implement a limited cure provision for loans that exceed the 3% cap on fees and points under the Qualified Mortgage (QM) safe harbor.

NAR Comments on AMC Rule

June 6, 2014: 

On June 6, 2014, NAR President Steve Brown submitted comments to five federal agencies in response to a proposed rule on minimum requirements for appraisal management companies (AMCs).

New FHA Lender Performance Metric

June 6, 2014: 

On June 4, 2014, NAR submitted comments to the Federal Housing Administration (FHA) on its supplemental lender performance metric.  NAR hopes this new tool will encourage lenders to loosen credit overlays and ease the fear of back-end enforcement actions by FHA.

Homebuyer Flood Insurance Relief

June 6, 2014: 

On May 30, 2014, FEMA announced the Flood Premiums and Rate Tables for 2015.

Patent Litigation Reform Dies in the Senate

May 23, 2014: 

On May 21, Senate Judiciary Chairman, Patrick Leahy (D-VT) announced that he would pull the patent litigation bill that has been under discussion for the past several months from the committee’s agenda.

FHFA Plans To Increase Credit; Leaves Loan Limits Unchanged

May 19, 2014: 

Federal Housing Finance Agency (FHFA) Director Mel Watt made his first public speech addressing FHFA’s strategic plan for Fannie Mae and Freddie Mac that improves liquidity in the present single-family housing finance market.

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