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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.

NAR Supports Pilot Program to Incentivize Counseling

June 1, 2012: 

NAR sent a letter to Rep. Karen Bass (D-CA) supporting the "Homeownership Preservation Education Act of 2012".

NAR Calls on VA to Implement 203(k) Renovation Pilot Program

June 1, 2012: 

The National Association of REALTORS® (NAR) President Moe Veissi sent a letter to the US Department of Veterans Affairs (VA) Secretary Eric Shinski asking the agency to offer a Veterans Renovation Pilot Program similar to the Federal Housing Administration’s (FHA) 203(k) Program.

CFPB Issues Loan Officer Compensation and Fees and Points Proposal (and real estate commissions)

June 1, 2012: 

On May 23, 2012, The Consumer Financial Protection Bureau CFPB held a small business review panel to evaluate proposed changes to the Federal Reserve’s Loan Officer Compensation Rule as well as offer alternatives as to how borrowers can be charged fees and points.

CFPB Delays Qualified Mortgage to Get More Data

June 1, 2012: 

On Thursday May 31, 2012, the Consumer Financial Protection Bureau (CFPB) announced that it would be seeking additional information on loan performance with regard to Debt to Income (DTI) ratios and a few other factors.

Congress Raises Concern About Lease Accounting Proposal

May 25, 2012: 

Reps. Sherman (D-CA) and Campbell (R-CA) sent a bipartisan letter signed by 58 other lawmakers to the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) urging the accounting standard setters to conduct a comprehensive economic analysis of its recent lease accounting proposal before making a final rule.

NAR Urges Congress to Make VA Adjustable Rate Mortgages (ARMs) Permanent

May 14, 2012: 

NAR, in coalition with the Mortgage Bankers and Home Builders, sent a letter to Congress urging them to make the VA ARM programs permanent.

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