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Real Estate Services Update

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.

March 1, 2013
NAR President Gary Thomas last week testified before the Senate Banking Committee on the importance of FHA in housing markets.
Topics: FHA
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.
Topics: FHA
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.
 
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.
February 8, 2013
On Thursday, Feb. 7th, The Responsible Homeowner Refinancing Act of 2013 was introduced by Senators Robert Menendez (D-NJ) and Barbara Boxer (D-CA) in an effort to remove the barriers preventing many Fannie Mae and Freddie Mac borrowers from refinancing their loans to the lowest rate possible.

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