Washington Report

Advocacy Updates from Washington D.C.

NAR Supports Pilot Program to Incentivize Counseling

NAR sent a letter to Rep. Karen Bass (D-CA) supporting the "Homeownership Preservation Education Act of 2012". 

This legislation would direct FHA to create a pilot program that would provide first-time homebuyers with an opportunity to reduce their insurance premiums by participating in homeownership counseling.  The pilot program would be limited to one-year and FHA would be required to report to Congress on the program's progress. 

The legislation has been referred to the House Financial Services Committee.

NAR Letter to Rep. Karen Bass