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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.

RESPA 3 Day Waiting Period

March 21, 2014: 

The Consumer Financial Protection Bureau (CFPB) listened to NAR in producing the new RESPA/TILA rule.

IRS Seeking Taxpayer Advocacy Panel Members

March 21, 2014: 

The Internal Revenue Service is seeking volunteers to serve on the Taxpayer Advocacy Panel (TAP).

Senate Passes Flood Insurance With House Amendments

March 14, 2014: 

On March 13, 2014, the United States Senate voted to approve the Homeowner Flood Insurance Affordability Act (H.R. 3370).

Obama Fiscal 2015 Budget: Proposed Impacts on Real Estate-Related Programs

March 14, 2014: 

On March 4, 2014, President Obama released his $3.9 trillion budget for the 2015 fiscal year, which begins on Oct. 1. The budget and appropriations bills will be considered by Congress in the upcoming months, although very little action is expected on the Administration’s budget. The following document includes highlights of the most noteworthy real estate-related programs that will impact the business of real estate.

Internet Sales Tax Hearing

March 14, 2014: 

On March 12, the House Judiciary Committee held a full committee hearing on "Exploring Alternative Solutions on the Internet Sales Tax Issue." During the hearing, Members on the committee and the witnesses, who included a representative from shopping mall owners/operators, tax attorneys, and former U.S.

Proposed Elimination of FHA “Prepayment Penalty”

March 14, 2014: 

On March 13, 2014, the Department of Housing and Urban Development (HUD) issued a proposed rule to eliminate Federal Housing Administration (FHA) post-payment interest charges. The policy change would prohibit mortgagees from charging borrowers interest on their home mortgages for days or weeks after a principal balance pay-off. The proposed rule will align HUD policy with the Consumer Financial Protection Bureau’s Final Qualified Mortgage Rule.

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