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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.

Consumer Financial Protection Bureau Issues 1,100 Page RESPA/TILA Proposal

July 16, 2012: 

On Monday, July 9, 2012, The Consumer Financial Protection Bureau (CFPB) issued the long awaited RESPA/TILA harmonization proposal. The proposal, at 1,100 pages is far more ambitious than simplifying and combining the Good Faith Estimate (GFE) and Truth in Lending (TIL) disclosures given to consumers upon application for a mortgage as NAR advocated.

House Committee Discusses Rural Housing Provision

July 16, 2012: 

Last week the House Agriculture Committee considered the 2012 Farm Bill. A similar bill passed the Senate last month, and included a provision to grandfather existing communities elibigle for rural housing programs. Rep. Fortenberry (R-NE) offered an amendment in the House markup to grandfather existing rural housing communities.

NAR Comments on QM Definition and Legal Standards

July 16, 2012: 

On Monday, July 9, 2012, NAR joined the Consumer Mortgage Banking Project (CMBP) in responding to the Consumer Financial Protection Bureau (CFPB) request for additional information and data in developing the Qualified Mortgage (QM) test.

NAR Participates in DOE Home Energy Score Conference

July 16, 2012: 

NAR participated in a recent Department of Energy Conference on the roll-out and implementation of a voluntary home energy score program.

FHFA Selects Bidders for Fannie Mae REO Pilot Program

July 6, 2012: 

On July 3, the Federal Housing Finance Agency (FHFA) announced that it had made selections of bidders in the first pilot program under its REO to Rental initiative.

Congress Reauthorizes Flood Insurance for 5 Years

June 29, 2012: 

On June 29, 2012, the Senate and House passed the Flood Insurance Reform Act as a part of H.R. 4348, the Surface Transportation Conference Report. Passage of this 5-year re-authorization brings certainty to real estate transactions in more than 21,000 communities nationwide where flood insurance is required for a mortgage.

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