Both the Senate and House are in action this week and will be focusing on several issues of importance to REALTORS®. In the Senate, the Banking Committee will examine the regulatory response to Wells Fargo's unauthorized accounts and the Homeland Security & Governmental Affairs Committee will continue its review of agency regulatory guidance. In the House, the Natural Resources Committee discusses the White House greenhouse/climate change guidance and the Transportation & Infrastructure Committee focuses on FEMA's local land use development decisions.
The Center for American Progress (CAP) released a report "Opportunities for Promoting Credit for Affordable Housing in Rural America," as follow-up to a joint White House and U.S.. Department of Agriculture convening facilitated by CAP and involving advocates, academics and other stakeholders, including the National Association of REALTORS®.
The Federal Housing Administration (FHA) recently published the August 2016 - HUD Handbook 4000.1 Frequently Asked Questions Update (FAQs). The FAQs cover a variety of topics including how to treat income earned by borrowers from state legalized marijuana, unreimbursed business expenses, repossessions and eligibility for borrowers with limited credit histories, among others.
The Department of Housing and Urban Development (HUD) is seeking public comment on ways to revise the fee schedule for the 203(k) Program Consultants. The 203(k) Program enables homebuyers and homeowners to finance the purchase, or refinance of a home and its rehabilitation costs through a single mortgage.