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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.

NAR Testifies on Consumer Mortgage Choice Act

June 21, 2013: 

On Tuesday, June 18, 2013, NAR President Gary Thomas testified before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit in support of H.R. 1077, The Consumer Mortgage Choice Act. 

GSEs Announce Short Sale Changes

June 21, 2013: 

Fannie Mae and Freddie Mac, the Government Sponsored Enterprises (GSEs), announced changes to their Standard Short Sale and HAFA guidelines to improve transparency and marketing of listed properties that will require GSE approval.

Congress Acts on Rural Housing

June 14, 2013: 

Two different bills are moving through Congress to address the rural housing issue.

NAR Supports the CREED Act

June 14, 2013: 

On Thursday, June 13, Senators Mary Landrieu (D-LA) and James Risch (R-ID), Chairwoman and Ranking Member of the Senate Committee on Small Business, respectively, held a markup hearing of S.289, the “Commercial Real Estate and Economic Development (CREED) Act of 2013.”

Update on Flood Insurance Rate Increases

June 10, 2013: 

With NAR’s support, Representatives Bill Cassidy (R-LA) and Maxine Waters (D-CA) have successfully attached an amendment to the Homeland Security Appropriations Bill to delay removal of “grandfathered” flood insurance rates for one year.

NAR Comments on Proposed QM Changes

June 7, 2013: 

On Monday, June 3, 2013, NAR President Gary Thomas submitted comments to the Consumer Financial Protection Bureau (CFPB) on further proposed revisions to the Ability-to-Repay or Qualified Mortgage (QM) rule. These changes provide more flexibility for lenders to qualify borrowers under the QM safe harbor standard which provides certain protections from liability in connection with the ability to repay determination.

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