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.
Last week the Insurance and Housing Subcommittee of the House Financial Services Committee passed a the "Affordable Housing and Self-Sufficiency Improvement Act of 2012" (AHSSIA, no bill number).
On February 1, 2012, NAR, along with dozens of other organizations sent a letter to the U.S. Senate Finance Committee as well as a letter to the Chairman of the Committee (Sen. Baucus, D-MT) asking for support of S.1832, the Marketplace Fairness Act.
On February 7, 2012, Fannie Mae announced the rollout of its online offer system for offers made on Fannie Mae-owned properties listed on the company's REO website, www.HomePath.com.
On Thursday, February 9, 2012 the federal government and 49 states entered into a settlement dealing with the mortgage servicing issues emanating from the foreclosure crisis of the last few years including the "robo-signing" scandal.
On February 7, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury released a final rule that subjects nonbank residential mortgage lenders and originators to certain anti-money laundering (AML) regulations already applicable to other types of financial institutions.
Part of the Obama Administration’s announcement to help underwater homeowners includes the Streamline Refinance offered by the Federal Housing Administration (FHA).