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.
On Tuesday July 29, 2014, NAR met with the Consumer Financial Protection Bureau (CFPB) on the implementation of changes to the Real Estate Settlment Procedures Act (RESPA) and the Truth in Lending Act (TILA).
On July 23, 2014, NAR testified on flood insurance before a Senate appropriations subcommittee.
NAR plans to submit comments on the Federal Aviation Administration's (FAA) recent "Interpretation of the Special Rule for Model Aircraft", which specifically mentioned REALTORS® use of Unmanned Aerial Vehicles (UAVs) for taking property videos as being a commercial use and therefore prohibited under FAA policy.
On Thursday, July 17, the Senate approved S. 2244, the Terrorism Risk Insurance Program Reauthorization Act of 2014, by a vote of 93-4.
NAR, as part of the Commercial Properties Coalition, recently filed the latest in a series of comment letters relating to efforts by the U.S. Environmental Protection Agency (EPA) to regulate purported lead paint hazards that may arise from renovation and remodeling activities in public and commercial buildings.
On July 14, 2014, HUD issued Mortgagee Letter 2014-15 allowing dual agency agreements in FHA pre-foreclosure transactions.