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, with other industry groups, sent a letter to the Congressional leaders, urging them to update the definition of "rural" in order to retain vital RHS housing programs in more than 900 rural communities.
On Monday, February 25th, 2013, the Bipartisan Policy Center (BPC) Housing Commission released a report titled, "Housing America's Future: New Directions for National Policy". This product was the culmination of 16-months of research and study.
NAR submitted comments on the Ability to Repay/Qualified Mortgage (QM) concurrent proposal seeking guidance on the calculation of fees and points and other matters such as rural mortgage access and non-profit lending.
Recently, the news media reported that national flood insurance rates could increase to $30,000 a year.
The Fish and Wildlife Service has finalized its plan for tackling the backlog of species that warrant protection under the Endangered Species Act.
FHA Commissioner Carol Galante testified before the House Financial Services Committee last week. Her testimony focused on the critical role that FHA has been taking in the housing recovery. She also acknowledged FHA's financial woes, and explained the variety of things FHA has been doing to stabilize the Fund.