The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Advocacy Group policy staff. To receive this content via email, subscribe to NAR's Member's Edge newsletter.
NAR submitted comments to the National Credit Union Administration (NCUA) in response to a proposal to raise the threshold for requiring an appraisal in commercial real estate transactions to $1,000,000 from the current level of $250,000. NAR believes an increase to $500,000 would be appropriate at this time.
The U.S. House of Representatives passed a one-week extension of the National Flood Insurance Program, preventing lapse of this important program.
The Appraisal Foundation released a document examining best practices for requests to appraisers for a reconsideration of a completed appraisal.
The House and Senate extension prevents a lapse in this critically important insurance.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively "the Agencies") released a proposed rule that would increase the current threshold for residential real estate transactions requiring an appraisal to $400,000.
NAR sent a letter to the Office of the Comptroller of the Currency (OCC) in response to the agency’s advanced notice of proposed rulemaking (ANPR) that requested input on whether changes and/or updates are needed to the Community Reinvestment Act (CRA).
NAR legislative staff met with House Financial Services Committee Chairman Jeb Hensarling (R-TX) to discuss his recent housing finance reform discussion draft called the “Bipartisan Housing Finance Reform Act of 2018,” which is cosponsored by Rep. John Delaney (D-MD).
NAR along with 20 other housing and financial organizations sent a letter to Senate Leaders urging for the confirmation of Kathy Kraninger as the next Director of the Bureau of Consumer Financial Protection (BCFP).
NAR submitted a letter to the Federal Housing Finance Agency (FHFA) in response to the agency’s request for input (RFI) on its proposed capital framework for Fannie Mae and Freddie Mac (the GSEs or Enterprises).
The Bureau of Consumer Financial Protection (BCFP) hosted the first of several industry meetings examining the Ability-to-Repay/Qualified Mortgage Rule (ATR/QM) in anticipation of their five-year assessment of the rule, due in early 2019.