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.
On Oct. 29, 2013, NAR commented on FHA's proposed Ability to Repay/Qualified Mortgage(QM) Rule.
On Monday, Oct, 28, 2013, Senators Joe Manchin (D-WV), Senator Mike Johanns (R-NE), Carl Levin (D-MI), Pat Toomey (R-PA), Debbie Stabenow (D-MI) and Mark Kirk (R-IL) introduced S. 1577: The Mortgage Choice Act.
Five federal regulatory agencies are issuing a joint notice of proposed rulemaking to amend regulations pertaining to loans secured by property located in special flood hazard areas.
On October 23, four members of the House Judiciary Committee introduced legislation to address the growing problem of patent litigation abuse.
NAR President Thomas testified before the Senate Banking Committee telling Congress to raise the debt limit in a timely manner to avoid financial market disruptions.
Sixty-six Members of the House of Representatives weighed in with FHFA Acting Director DeMarco urging him not to lower the Freddie Mac and Fannie Mae loan limits.