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.
In an effort to combat money laundering in the real estate sector, the Financial Crimes Enforcement Network (FinCEN) at the Treasury Department issued a Geographic Targeting Order (GTO) that will temporarily require certain U.S. title insurance companies to identify the natural persons behind companies used to pay “all cash” for high-end residential real estate in Manhattan and Miami-Dade County.
On January 7, 2016, the House of Representatives held the first in a series of roundtables and hearings on the National Flood Insurance Program (NFIP).
The Wildland-Urban Interface (aka, the WUI), which contains 46 million single family homes, several hundred thousands of businesses and a population of more than 120 million and growing, is at a higher risk from wildfires.
Read about the real estate provisions of the bill.
The Federal Housing Finance Agency released its annual Scorecard for Fannie Mae and Freddie Mac (the government sponsored entities, or “GSEs”).
On Dec. 9, 2015, the Federal Housing Administration (FHA) released its 2016 Loan Limits. FHA's calculation for maximum loan limits in high cost metropolitan areas of the country will remain at the 2015 level of $625,500. The standard loan limit for lower cost metropolitan areas will remain unchanged at $271,050.
Loan limits increased in 188 counties with no counties facing a...
The House Financial Services Committee (HFSC) voted 46-9 to approve HR 2205, the Data Security Act of 2015.
The House Financial Services Committee passed H.R. 3700, "Housing Opportunities through Modernization Act” with a bipartisan vote of 44-10.
Earlier this year the Consumer Financial Protection Bureau (CFPB) expanded its definition of “rural” to include “census blocks that are not in an urban area as defined by the Census Bureau”.
House and Senate approved Fixing America’s Surface Transportation Act (FAST Act) without additional g-fees.