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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.

Fannie Mae Issues Guidance on Private Transfer Fee Covenants

June 22, 2012: 

Fannie Mae issued Selling Guide Announcement SEL-2012-05. The Guide states that effective July 16, 2012, Fannie Mae will not purchase or securitize mortgages on properties encumbered by private transfer fee (PTF) covenants that were created on or after February 8, 2011.

NAR Submits Comments on FHFA Strategic Plan

June 22, 2012: 

On June 13, 2012, NAR President Moe Veissi submitted comments to the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs)) on its Strategic Plan for Fiscal Years 2013-2017 that incorporates the strategic plan for the conservatorships of Fannie Mae and Freddie Mac FHFA sent to Congress in February 2012.

Update on Basel III and Final Rule for Basel 2.5

June 15, 2012: 

On June 7, 2012, the Federal Reserve Board of Governors unanimously approved the release of three Notices of Proposed Rulemaking (NPRs) for Basel III and the final rule for Basel 2.5.

Dept. of Interior Declines to List Dunes Lizard as Endangered in N.M. and Texas

June 15, 2012: 

As a result of unprecedented commitments by private landowners to voluntary conservation agreements now in place in New Mexico and Texas that provide for the long-term conservation of the dunes sagebrush lizard, the U.S. Fish and Wildlife Service has determined that the species does not need to be listed under the Endangered Species Act.

NAR Supports U.S. REIT Act

June 15, 2012: 

On June 11, 2012, a coalition of real estate organizations, including NAR, wrote to Reps. Tiberi (R-OH) and Neal (D-MA) thanking them for introducing H.R. 5746, the Update and Streamline REIT Act (U.S. REIT Act).

Members of Congress Send Letter to FHA on Condos

June 11, 2012: 

Sixty-nine Members of the House of Representatives wrote to the FHA last week, asking them to loosen restrictions on the sale of condominiums.

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