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.
The Federal Reserve Board, along with five other federal regulatory agencies, issued a final rule to impose appraisal requirements for loans secured by a borrower’s home and bearing interest rates higher than the average prime offer rate (APOR) for comparable properties and mortgages.
On Aug. 24. 2012, the Fish and Wildlife Service and the National Marine Fisheries Service published a proposed rule to enact changes to the process for designating critical habitats for endangered species.
On Thursday, Jan. 10, 2013, NAR achieved a significant victory in obtaining a safe harbor in the QM rule for loans underwritten to the automated standards of the GSEs, FHA, VA, and RHS.
On Jan. 4, 2013, Congress approved nearly a $10 Billion increase in the National Flood Insurance Program's borrowing authority for Superstorm Sandy (HR 41).
On Jan. 1 both the Senate and House passed H.R. 8, legislation to avert the “fiscal cliff.”
On Dec. 28, 2012, NAR submitted comments to FHA on the interpretive rule regarding prohibited sources of minimum cash investment under the National Housing Act.