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.
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.
Last week, the House Committee on Veterans' Affairs passed H.R. 4482, which would make VA ARM and hyrid ARM products permanent. Adjustable Rate Mortgages (ARMs) are especially useful loan products for active duty military.
On April 17, 2012, the Federal Housing Finance Agency (FHFA) announced a new directive as part of FHFA’s continued servicing alignment initiative that directs Fannie Mae and Freddie Mac to align their guidelines for servicing delinquent mortgages they own or guarantee.