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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.

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.

NAR Asks Congress to Protect Rural Housing

May 14, 2012: 

NAR, in coalition with the Mortgage Bankers and Home Builders, wrote to Congress this week and asked them to save rural communities from losing rural housing programs.

CFPB Announces Plans to Propose Mortgage Compensation Rules

May 14, 2012: 

The Consumer Financial Protection Bureau (CFPB) released an outline of proposals under consideration for rules governing compensation for mortgage loan originators.

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