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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.

Congress Grants Extension for Rural Communities

March 22, 2013: 

Last week Congress passed the Continuing Resolution, which funds the government for remainder of the fiscal year.

NAR Urges IRS to Recognize REALTORS® as Independent Contractors

March 15, 2013: 

On Friday, March 15, 2013, NAR submitted comments to the Internal Revenue Service in connection with proposed regulations published on January 2, 2013, interpreting the Shared Responsibility for Employers Regarding Health Coverage requirements of the Patient Protection and Affordable Care Act.

NAR President Testifies on FHA

March 1, 2013: 

NAR President Gary Thomas last week testified before the Senate Banking Committee on the importance of FHA in housing markets.

March 1 Arrives With No Sequester Solution; FHA and RHS Home Loans Could Be Slowed

March 1, 2013: 

The March 1 date for implementing across the board federal budget cuts arrived with no action to delay or forestall the cuts.  The automatic reductions will affect most government programs and could result in periodic furloughs of government employees.

Bipartisan Housing Center Releases its Blueprint for America's Future Housing Finance System

March 1, 2013: 

On Monday, February 25th, 2013, the Bipartisan Policy Center (BPC) Housing Commission released a report titled, "Housing America's Future: New Directions for National Policy". This product was the culmination of 16-months of research and study.
 

NAR Urges CFPB to Fix Qualified Mortgage Cap on Fees and Points

February 22, 2013: 

NAR submitted comments on the Ability to Repay/Qualified Mortgage (QM) concurrent proposal seeking guidance on the calculation of fees and points and other matters such as rural mortgage access and non-profit lending.

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