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.
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.
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.
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.
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.
In this issue: FHA Extends Anti-Flipping Waiver through 2012; Housing Taxed to Pay-for Extension of Existing Tax, Medicare, and Unemployment Benefits.
In this issue: NFIP Extended Until May 12; NAR President Veissi Meets with FHA; CFPB Issues Second Round of Proposed Closing Documents; CFPB Sets Up Mortgage Complaint Hotline; NTSB Urges States to Ban Use of Electronics While Driving