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 March 14, 2012, NAR signed onto two coalition letters, urging Senate Majority Leader Reid and Republican Leader McConnell to expand the Senate jobs legislation to include provisions aimed to enhance the flow of credit to the small business and commercial real estate sectors.
On March 9, 2012, the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac, or the GSEs) released details on the implementation of the new FHFA strategic plan through the use of a “2012 Conservatorship Scorecard”.
On February 15, 2012, Freddie Mac released an update to its servicing guide, reinforcing the requirement that servicers must waive all rights to seek deficiencies for short sale and deed-in-lieu of foreclosure transactions on Freddie Mac Mortgages.
On March 7, 2012, the Federal Housing Finance Agency Office of Inspector General (FHFA-OIG) released a report on FHFA’s supervision of Freddie Mac.
On March 6, 2012, Fannie Mae announced that it will soon implement policy changes to its Lender-Placed Insurance (LPI) requirements.
The Obama Administration announced two initiatives to help homeowners and their families. The Administration is reducing fees for Federal Housing Administration (FHA) borrowers seeking to refinance and providing relief to servicemembers and veterans.