Washington Report

Advocacy Updates from Washington D.C.

NAR Urges Congress to Make VA Adjustable Rate Mortgages (ARMs) Permanent

May 14,2012

NAR, in coalition with the Mortgage Bankers and Home Builders, sent a letter to Congress urging them to make the VA ARM programs permanent. The authority for ARM loans expires on September 30, 2012. The House VA Committee passed legislation, HR  4482, sponsored by Rep Jeff Miller (R-FL) to make these loans permanent. That bill now moves to the House floor.