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.
The Consumer Finance Protection Bureau (CFPB) is asking the public for comments about the real estate transaction closing process.
On Dec. 20, 2013, the Federal Housing Administration (FHA) announced a 25-day extension for communities who wish to request a change to high cost area loan limits.
A Science Advisory Board panel will recommend the EPA consider the degree of connections that wetlands and streams have with downstream waters in a draft scientific study. This is a positive development for regulated stakeholders because establishing significance of the connection is a test articulated by Supreme Court Justice Kennedy to ascertain which wetlands merit Clean Water Act jurisdiction.
On Friday, December 13, FHA released its Annual Report to Congress and the FY 2013 Independent Actuarial Assessment of the FHA Mutual Mortgage Insurance Fund.
Much has been going on in the area of loan limits. Last month, the FHFA announced that the loan limits for Freddie Mac and Fannie Mae would not be going down in 2014, as had been previously suggested.
On Wednesday December 11, 2013, the Federal Housing Administration (FHA) released its final Ability to Repay/Qualified Mortgage (QM) Rule.