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.
NAR submitted comments with the Federal Housing Administration (FHA) on proposed changes to the Home Equity Conversion Program (HECM) and HECM for Purchase Program.
The U.S. Department of Agriculture (USDA) Rural Housing Service Section 502 Direct Loan Program, which helps relatively low-income households get safe and affordable financing through direct lending, is reaching capacity in terms of loans it will be funding for the 2016 fiscal year which ends September 30, 2016.
The House approved a $32.1 billion FY 2017 spending bill this week that would cut U.S. EPA's budget next year and restrict the Agency's ability to implement several regulations, including the Waters of the U.S. rule and the Clean Power Plan.
The Senate voted to pass H.R. 636, the Federal Aviation Administration Reauthorization Act of 2016, which the House passed on Monday, July 11.
NAR sent a letter to U.S. Department of Housing and Urban Development (HUD) Secretary Julián Castro regarding the Federal Housing Administration's (FHA) June 30, 2016 enhancements to the Distressed Asset Stabilization Program (DASP).
H.R. 3700, sponsored by Reps. Luetkemeyer (R-MO) and Cleaver (R-MO) and through companion legislation, Senators Menendez (D-NJ) and Scott (R-SC), passed the Senate under unanimous consent is on the way to the President for his signature.
NAR sent a letter to U.S. House Financial Services Committee Chairman Jeb Hensarling (R-TX), thanking him for including several provisions of interest to NAR in the "Financial Choice Act" (FCA).
NAR joined with 39 coalition partners to urge Senate passage of HR 3700.
The Federal Housing Finance Agency (FHFA) released its latest progress report and Request for Input (RFI) on Fannie Mae and Freddie Mac's (the government-sponsored enterprises, or "GSEs") single-family credit risk transfer programs.
The Appraiser Qualifications Board has adopted changes to the three-year Supervisory Appraiser jurisdictional requirement which are in line with previous requests made by NAR.