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 September 27th, FHA announced that it would take a $1.7 billion draw from the Treasury to meet their 30-year reserve requirement.
The Department of Housing and Urban Development (HUD) will delay its proposal to prevent dual agency agreements in FHA pre-foreclosure transactions.
On Thursday, September 26, the House of Representatives passed H.R. 2600, the “Interstate Land Sales Disclosure Act of 2013,” sponsored by Rep. Carolyn Maloney (D-NY), by a vote of 410-0.
On Sept. 18, 2013, a Senate Banking Subcommittee held the first hearing on implementation of the Biggert-Waters Flood Insurance Reform Act.
On Tuesday, September 17, 2013, NAR President Gary Thomas sent a letter to Federal Housing Finance Agency (FHFA) Acting Director Ed Demarco raising concerns about the continued attempts to increase cost and reduce access to conventional mortgages.
On September 18, 2013, NAR President Gary Thomas sent FHA Commissioner Galante a letter concerning HUD’s new policy preventing dual agency agreements in FHA pre-foreclosure transactions.