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 November 25th, 2014, FHFA Director Mel Watt announced that he would be directing the GSEs to alter REO policies that would allow all qualified buyers to purchase current Fannie Mae or Freddie Mac REO inventory at market value.
On Monday, Nov. 17, 2014, FHA released its Annual Report to Congress and the FY 2014 Independent Actuarial Assessment of the FHA Mutual Mortgage Insurance Fund.
On Wednesday, Nov. 19, the Coalition to Insure Against Terrorism, or "CIAT," conducted a lobbying day on Capitol Hill, meeting with over thirty key members of Congress to urge for a long-term reauthorization of the Terrorism Risk Insurance Act of 2002, or "TRIA."
On Sunday, Nov. 9, 2014 NAR members heard from RESPA attorney Phil Schulman about the Consumer Financial Protection Bureau's (CFPB) changes to the Real Estate Settlment Procedures Act (RESPA) and the Truth in Lending Act (TILA) under the Dodd-Frank Wall Street Reform and Consumer Protection Act.
The VA loan limits have remained at higher levels since 2008, at 150% of the GSE loan limits.
On Nov. 10, 2014, President Obama asked the Federal Communications Commission (FCC) to take up the strongest possible rules to protect net neutrality, the principle that says Internet service providers (ISPs) should treat all internet traffic equally.