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.
Much has been going on in the area of loan limits. Last month, the FHFA announced that the loan limits for Freddie Mac and Fannie Mae would not be going down in 2014, as had been previously suggested.
On Wednesday December 11, 2013, the Federal Housing Administration (FHA) released its final Ability to Repay/Qualified Mortgage (QM) Rule.
In response to delays encountered in the implementation of the federally administered health exchange website, Healthcare.gov, the U.S. Department of Health and Human Services formally issued regulations on December 12th extending the deadline for signing up via the website for health insurance that would take effect on January 1, 2014.
On December 13, 2013, NAR President Steve Brown sent a letter to Charles Coulter, Deputy Assistant Secretary for Single Family Housing, concerning the draft FHA Single Family Handbook.
On December 12, 2013, The Federal Reserve Board, along with five other federal regulatory agencies, issued a final rule to exempt a subset of higher priced mortgage loans (HPML) from certain appraisal requirements.
On Dec. 5, 2013 the U.S. House passed the H.R. 3309 “Innovation Act” aimed at curbing abuses in the patent litigation system.