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 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.
Fannie Mae and Freddie Mac will be issuing new guidelines to enhance and streamline the short sale process.
The Consumer Finance Protection Bureau (CFPB) issued a proposed rule covering a number of mortgage servicing topics.
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.
The Senate Finance Committee has crafted and sent to the full Senate a package that would extend the mortgage relief provision for an additional year, through December 31, 2013.
The Senate passed S. 3245, which reauthorizes the EB-5 regional center program that allows foreign investors to channel investment funds into American businesses and developments for three years.