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.
On Feb. 20, 2014, Freddie Mac Senior Vice President for Single Family Servicing, Tracy Hagen Mooney, sent a letter to NAR President to address member concerns about Freddie Mac's short sale/auction pilot.
The White House unveiled a package of executive actions designed to limit the potential for abuses of the patent system. It also called on Congress to pass legislation. The U.S. Patent & Trademark Office (USPTO) announced three new initiatives aimed at reducing the burden of patent trolls on American businesses.
NAR Research surveyed a sample of lenders with questions about the impact of the lending on their business and how the rule could in turn impact consumers.
More than 900 communities that were at risk for losing access to federal rural housing programs are now protected through 2020.
On Jan. 30, HUD announced that it will now accept electronic signatures on most documents involved in FHA mortgage insurance, mortgage servicing, loss mitigation and FHA insurance claims.
On Jan. 30, 2014, the United States Senate voted 67-32 to approve the Homeowner Flood Insurance Affordability Act (S. 1926), sponsored by Senators Menendez (D-NJ) and Isakson (R-GA).