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 Monday, June 24, 2013, the Consumer Financial Protection Bureau (CFPB) issued proposed changes to the Qualified Mortgage (QM), Loan Officer Compensation, and Mortgage Servicing rules among others.
On June 20, six Republican Senators and an Independent (Toomey, King, Thune, Heller, Blunt, Rubio, Coats) introduced the Data Security and Breach Notification Act of 2013. (S. 1193)
The Supreme Court sided today with a Florida landowner who challenged terms for a state-issued permit for developing wetlands.
On Tuesday, June 18, 2013, NAR President Gary Thomas testified before the House Financial Services Subcommittee on Financial Institutions and Consumer Credit in support of H.R. 1077, The Consumer Mortgage Choice Act.
Fannie Mae and Freddie Mac, the Government Sponsored Enterprises (GSEs), announced changes to their Standard Short Sale and HAFA guidelines to improve transparency and marketing of listed properties that will require GSE approval.
NAR 2013 President Gary Thomas sent a letter to Senators Debbie Stabenow (D-MI) and Dean Heller (R-NV) expressing gratitude for introducing S. 1187, “The Mortgage Forgiveness Tax Relief Act.” This bill would extend for two years the current law provision that allows tax relief for homeowners when lenders forgive some portion of mortgage debt they owe, such as in a short sale.