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 Wednesday October 29, 2014 NAR submitted comments to the Consumer Financial Protection Bureau (CFPB) on changes to the Real Estate Settlment Procedures Act (RESPA) and the Truth in Lending Act (TILA) rule. CFPB has proposed giving lenders a full day to redisclouse the loan estimate when the loan is locked in.
Regulators released a joint proposed rule today that would require lenders to escrow flood insurance payments and eliminate mandatory insurance requirements for structures that are detached from a primary residence.
NAR recently met with Federal Aviation Administration (FAA) officials to discuss NAR's concerns and perspectives regarding the upcoming proposed rulemaking to regulate small Unmanned Aerial Vehicles (UAVs).
On Oct. 13, 2014, NAR submitted comments on the Federal Housing Finance Agencies proposal to create a Single Security that could be guaranteed by either Fannie Mae or Freddie Mac (the government-sponsored enterprises or GSEs).
Funding for Rural Development’s Single Family Housing Guaranteed Loan program is now available for fiscal year (FY) 2015.
On Oct. 16, 2014, President Steve Brown sent a letter to FHA Commissioner Carol Galante in response to member concerns about the Single Family Note Sales Program (SFLS).