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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 Calls for Expansion of FHA’s 203(k) Program

January 9, 2012: 

Moe Veissi, the 2012 President of the National Association of Realtors, sent a letter to Shaun Donovan, Secretary of Housing and Urban Development (HUD) requesting that investors be permitted to participate in the Federal Housing Administration’s (FHA) Section 203(k) Rehabilitation Mortgage Insurance Program to purchase vacant and foreclosed properties in need of significant rehabilitation.

Government Offers to Review Foreclosure Handling in More than 4 Million Individual Cases

January 9, 2012: 

Borrowers who faced foreclosure in 2009 or 2010 may be eligible for a free independent review of their foreclosures. The reviews which were ordered by the Office of the Comptroller of the Currency (OCC) and the Federal Reserve in April of 2011 cover foreclosures handled by most major loan servicers.

Former Ohio Attorney General Richard Cordray takes over Helm of CFPB

January 9, 2012: 

On Thursday, January 5, 2011, President Obama installed former Ohio Attorney General Richard Cordray as Director of the Consumer Financial Protection Bureau (CFPB) using a recess appointment.

FHFA Releases Statement on GSE Guarantee Fee Increase

January 9, 2012: 

On December 23rd, 2011, President Obama signed legislation extending the payroll tax reduction and requiring the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs)) to raise GSE guarantee fees (g-fees) by at least ten basis points.

NAR Submits Comments On Loan Servicing Compensation

January 3, 2012: 

On December 27, 2011, NAR President Moe Veissi submitted NAR’s comments to the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs)) on future mortgage servicing structures and servicing compensation for single-family loans to enhance competition in mortgage servicing and origination.

December 26, 2011

December 26, 2011: 

In this issue: FHA Extends Anti-Flipping Waiver through 2012; Housing Taxed to Pay-for Extension of Existing Tax, Medicare, and Unemployment Benefits.

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