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.
The Consumer Financial Protection Bureau (CFPB) released an outline of proposals under consideration for rules governing compensation for mortgage loan originators.
A coalition of real estate and other business organizations (including NAR) wrote to the Financial Accounting Standards Board (FASB) and International Accounting Standards Board (IASB) reaffirming their calls for an economic impact study, extensive field testing, and full re-exposure of the entire lease accounting proposal — with the goal of creating a standard that will meet the tests of the marketplace and fulfill the needs of all stakeholders.
This week the National Association of REALTORS (NAR) and the Institute of Real Estate Management (IREM) sent an industry coalition letter to Acting Federal Housing Administration (FHA) Commissioner, Carol Galante, asking the agency to adopt a private transfer fee rule in harmony with the final rule recently adopted by the Federal Housing Finance Agency (FHFA).
The Obama administration is currently reviewing a controversial guidance document that it says will clarify what waters of the U.S. are under federal jurisdiction.
NAR has signed on to a letter by ASAE, The Center for Association Leadership, which urges Congress to make changes to legislation approved in late April that places severe restrictions on government employee attendance at meetings and conferences, including those held by trade associations.
On April 26th, the House passed the Cyber Intelligence Sharing and Protection Act (CISPA.) The legislation would allow the government to relay cyber threat information to a company to prevent cyber attacks.