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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.

ACA Individual Mandate Rules Released

August 30, 2013: 

On August 28, 2013, the U.S. Treasury Department and Internal Revenue Service (IRS) issued final regulations on the individual shared responsibility provisions, i.e. individual mandate, of the Affordable Care Act.

GSEs Announce Short Sale Changes

August 23, 2013: 

On August 22, 2013, Fannie Mae announced updates to its automated underwriting standards to fix problems with credit reporting of short sales.

USDA Section 504 Funding Available

August 23, 2013: 

The U.S. Department of Agriculture (USDA) has funding available for Section 504 home repair loans.

House Launches Bipartisan Privacy Working Group

August 23, 2013: 

On August 1, the leaders of a House subcommittee that regulates online commerce issues launched a bipartisan working group to examine online privacy issues and determine whether legislation is necessary to address concerns over the way companies are handling vast troves of data.

Administration Comments On Housing Finance Reform

August 9, 2013: 

On Aug. 6, 2013, President Obama delivered a speech and released a fact sheet on the Administration’s proposal for housing finance reform. This was the Administration’s most significant discussion on housing finance since the release of the Treasury Department’s 2011 white paper, “Reforming America’s Housing Finance Market."

FHFA Releases Statement On Eminent Domain

August 9, 2013: 

On Aug. 8, 2013 the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac, released a statement on the use of eminent domain to restructure performing loans along with an analysis of the implications for Fannie Mae, Freddie Mac and the FHFA. NAR cautions that the impact of such proposals could have a chilling effect on lending in these municipalities and raised these concerns with the FHFA in 2012.

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