The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Government Affairs policy staff. To receive this content via email, subscribe to NAR's Weekly Report newsletter and check the "legislative & regulatory issues" box.
NAR President Moe Veissi wrote to Federal Reserve Chairman Ben Bernanke regarding tight access to mortgage credit, urging Bernanke to weigh in on three key rule proposals.
NAR attended a recent symposium in Washington, D.C., that highlighted the many concerns and questions regarding a new proposal being considered by several local governments across the country to seize mortgages by using their eminent domain authority.
The Federal Housing Finance Agency sent a notice to the Federal Register announcing a revised approach to guarantee fee (g-fees) charges.
Fannie Mae recently announced expansion of it's Homepath Mortgage product that provides homebuyers and investors financing for the purchase of Fannie Mae-owned properties.
Last week the House passed the FHA Emergency Fiscal Solvency Act of 2012, which strengthens FHA's financial solvency; allows FHA to collect losses from lenders who made material errors in underwriting or committed fraud; and strengthens financial oversight and disclosure.
The Federal Housing Administration (FHA) issued a mortgagee letter announcing modest improvements to the treatment of condos under the FHA program.