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 June 17, 2014, the Federal Reserve and Consumer Financial Protection Bureau (CFPB) held a webinar describing the forthcoming August 2015 changes to loan disclosures and settlement statements.
On June 30, 2014, NAR President Steve Brown sent a letter to Federal Housing Administration (FHA) Commissioner Carol Galante in support of FHA’s efforts to reduce mortgage insurance premiums for first-time buyers through its Homeowners Armed with Knowledge program, or HAWK.
On June 26, FEMA released guidance related to providing refunds to property owners that overpaid for flood insurance.
On June 19, 2014, the House Judiciary Committee approved H.R. 3086, the Permanent Internet Tax Freedom Act, by a vote of 30-4.
On June 24, the FHA responded to a request from NAR and other groups, regarding the use of the 203k rehabilitation/renovation loan program for flood mitigation. In the letter, dated February 6, 2014, NAR and the coalition asked FHA to confirm the eligibility of the Federal Housing Administration's FHA Section 203k program for the rehabilitation of homes that have not been damaged in a flood, but are at risk of damage from future flood events. The 203k has been used in flooded areas to rebuild homes, and the coalition wanted assurance that the program could be used for mitiga
NAR submitted a statement last week to the House Agriculture Subcommittee on Livestock, Rural Development, and Credit to their hearing entitled, "A Review of Credit Availability in Rural America."