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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.

House Committee Approves TRIA Bill

June 20, 2014: 

On Friday, June 20th, the House Financial Services Committee approved Rep. Randy Neugebauer’s (R-TX) TRIA Reauthorization bill, H.R. 4871, by a vote of 32 to 27.

FHA Reverse Mortgage Changes

June 20, 2014: 

On June 18, 2014, the Federal Housing Administration (FHA) released two Mortgagee Letters on the Home Equity Conversion Mortgage (HECM) program.

House Passes 3% Cap Bill

June 13, 2014: 

On Monday, June 9, 2014, The House of Representatives passed H.R. 3211, "The Mortgage Choice Act" which addresses discrimination in the calculation of fees and points under the Ability to Repay/Qualified Mortgage (QM) rule.

NAR Comments on 3% Cap

June 6, 2014: 

On Thursday, June 5, 2014, NAR submitted comments on the Consumer Financial Protection Bureau's (CFPB) proposal to implement a limited cure provision for loans that exceed the 3% cap on fees and points under the Qualified Mortgage (QM) safe harbor.

NAR Comments on AMC Rule

June 6, 2014: 

On June 6, 2014, NAR President Steve Brown submitted comments to five federal agencies in response to a proposed rule on minimum requirements for appraisal management companies (AMCs).

New FHA Lender Performance Metric

June 6, 2014: 

On June 4, 2014, NAR submitted comments to the Federal Housing Administration (FHA) on its supplemental lender performance metric.  NAR hopes this new tool will encourage lenders to loosen credit overlays and ease the fear of back-end enforcement actions by FHA.

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