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.
Kevin Brown, broker of Better Homes Realty, testified on behalf of NAR at the U.S. House Financial Services Subcommittee on Housing & Insurance hearing entitled "Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform, Part II."
The House of Representatives, on a vote of 237-189, passed HR 2874: The 21st Century Flood Reform Act to reauthorize and reform the National Flood Insurance Program (NFIP).
Consumer Financial Protection Bureau (CFPB) Director Richard Cordray announced he would be leaving his role at the agency at the end of the month.
The Federal Housing Administration (FHA) released its Annual Report to Congress and the FY 2017 Actuarial Review of the Mutual Mortgage Insurance Fund.
EPA and the Army Corps of Engineers sent a proposed rule delaying the effective date of the Waters of the U.S. Rule to the White House for review.
HR. 1 will have large negative impacts for a wide swath of America’s residential real estate. The cap on deductible mortgage interest, elimination of the deduction for state and local taxes, and the change to the capital gains exclusion will impact large segments of the market. Low mortgage rates mask the negative effect that these changes will have on home ownership.
The Appraisal Qualifications Board (AQB) released the Fourth Exposure Draft of Proposed Changes to the Real Property Appraiser Qualifications. The Exposure Draft proposes three major changes related to education and experience.
The US Department of Agriculture - Rural Development (USDA) released new guidance on how to determine if an area is Rural in Character (RIC), in anticipation of the upcoming five-year periodical rural review that determines eligibility for USDA rural development programs. The last reviews were conducted in 2012-13.
HUD announced that would suspend subsidies for federally assisted housing units that did not have utilities in Puerto Rico and the Virgin Islands. The reason is because HUD requires all units to be decent, safe, and sanitary and a unit without utilities does not meet that standard.