Washington Report

Advocacy Updates from Washington D.C.

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.

Recent

President Tom Salomone sent a letter to the Department of Housing and Urban Development (HUD) with concerns about the Federal Housing Administration’s (FHA) high annual mortgage insurance premiums and mortgage insurance that is required for the life of the loan.

The Supreme Court this week heard oral arguments in the Hawkes vs. U.S. Army Corps of Engineers case, which questions whether the Army Corps of Engineers' "jurisdictional determinations" (JDs) -  an official decision as to whether or not a wetland is regulated by the Corps of Engineers - are "final agency actions" that are subject to judicial review.

NAR re-iterated recommendations regarding the AQB's Real Property Appraiser Qualification Criteria, in particular the need to re-evaluate the need for a Bachelor’s degree for Certified General and Certified Residential classifications. NAR also recommended the AQB revise the use of the term "Trainee" and the three-year residency requirement for Supervisory Appraisers.

The U.S. House of Representatives passed S. 2393, the “Foreclosure Relief and Extension for Servicemembers Act of 2015,” which extends the one-year protection from foreclosure in the Servicemembers Civil Relief Act (SCRA) through 2017. The Senate passed S. 2393 in 2015 and the legislation is expected to be signed by the President.

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