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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.

FHA Issues Modest Changes to Condo Rules

September 14, 2012: 

The Federal Housing Administration (FHA) issued a mortgagee letter announcing modest improvements to the treatment of condos under the FHA program.

CFPB Names Real Estate Professional Gary Acosta to Consumer Advisory Board

September 14, 2012: 

NAR is pleased the Consumer Financial Protection Bureau (CFPB) included a real estate professional -- the co-founder of the National Association of Hispanic Real Estate Professionals (NAHREP) -- in its 25 member Consumer Advisory Board.

NAR Comments on RESPA/TILA Proposal to Change APR

September 4, 2012: 

NAR submitted comments on a small part of the 1,100 page RESPA/TILA harmonization regulatory proposal seeking to change the annual percentage rate or APR calculation. 

FHFA Announces New Short Sale Guidance

August 24, 2012: 

Fannie Mae and Freddie Mac will be issuing new guidelines to enhance and streamline the short sale process.

CFPB Issues Proposed Rule on Mortgage Servicing

August 24, 2012: 

The Consumer Finance Protection Bureau (CFPB) issued a proposed rule covering a number of mortgage servicing topics.

FHFA Raises Concerns Over Eminent Domain Proposal

August 10, 2012: 

The conservator of Fannie Mae and Freddie Mac sent a notice to the Federal Register announcing the acceptance of public comments on the restructure of performing loans through the use of eminent domain.

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