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.
The Senate Banking Committee held a hearing last week on S. 1376, the "FHA Solvency Act of 2013," introduced by Senators Johnson (D-SD) and Crapo (R-ID). This bill provides promotes FHA’s financial solvency with common sense financial reforms, while still retaining FHA’s critical historic mission.
The Federal Emergency Management Agency has released a video that presents an overview of the Biggert-Waters Flood Insurance Reform Act of 2012 (BW12).
Last week the House Financial Services Committee held a hearing on the Protecting American Taxpayers and Homeowners (PATH) Act discussion draft, introduced by Chairman Hensarling (R-TX). The comprehensive discussion draft includes reforms to FHA, the GSEs, and the financial regulatory law known as the Dodd-Frank Act.
With NAR’s support, Senator Mary Landrieu (D-LA) successfully added a 1-year delay of “grandfathered” flood insurance rates to the Senate Homeland Security Appropriations Bill as approved by committee on July 18. The House-passed version also includes this provision. Next, the full Senate must vote on the measure.
Last week House Financial Services Chairman Hensarling (R-TX) introduced a comprehensive discussion draft on Housing Finance Reform. The draft bill, called the Protecting American Taxpayers and Homeowners (PATH) Act, includes reforms to FHA, the GSEs, and the financial regulatory law known as the Dodd-Frank Act.
The Obama administration is looking forward to a host of new environmental regulations that go far beyond the president's plans to issue new standards for greenhouse gas emissions from new and existing power plants.