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.
Earlier this year, the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs) released a white paper on the creation of a common secondary market securitization platform to begin the process of GSE Reform.
On Dec. 17, 2012, FEMA is launching the Online Letter of Map Change (LOMC) - a new way to submit a request to change a property’s flood zone designation.
On Thursday, Dec. 13, 2012, The Consumer Financial Protection Bureau (CFPB) announced its proposed policy to allow companies to test new consumer disclosures on a case-by-case basis.
Last week, the Senate Banking Committee held a hearing entitled, "Oversight of FHA: Examining HUD's Response to Fiscal Challenges".
NAR Urges Passage of the Small Business Lending Enhancement Act of 2012 and the Responsible Homeowner Refinancing Act of 2012
NAR, in coalition with the National Association of Home Builders, sent a letter to the United States Senate urging swift passage of S. 2231, the “Small Business Lending Enhancement Act of 2012,” sponsored by Senator Udall (D-CO) and S. 3522, the “Responsible Homeowner Refinancing Act of 2012,” introduced by Senators Menendez (D-NJ) and Boxer (D-CA).
The House Subcommittee on Financial Institutions and Consumer Credit and the House Subcommittee on Insurance, Housing and Community Opportunity held a joint subcommittee hearing on “Examining the Impact of the Proposed Rules to Implement Basel III Capital Standards.”