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 September 27th, FHA announced that it would take a $1.7 billion draw from the Treasury to meet their 30-year reserve requirement.
The Department of Housing and Urban Development (HUD) will delay its proposal to prevent dual agency agreements in FHA pre-foreclosure transactions.
On Sept. 18, 2013, a Senate Banking Subcommittee held the first hearing on implementation of the Biggert-Waters Flood Insurance Reform Act.
NAR sent two letters to the House of Representatives this week urging against cosponsoring Rep. Joe Hensarling’s (R-TX) housing finance reform bill, H.R. 2767, the Protecting American Taxpayers and Homeowners (PATH) Act.
The Federal Emergency Management Agency (FEMA) has released guidelines for how flood insurance rates will be calculated under the Biggert-Waters Act of 2012.
The six financial federal regulators [HUD, Fed, FDIC, FHFA, OCC, SEC] responsible for writing and implementing the Qualified Residential Mortgage rule, or "QRM", re-proposed the rule after receiving considerable pushback from NAR, other housing industry groups, consumer groups, and lawmakers.