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.
On Jan. 30, 2014, the United States Senate voted 67-32 to approve the Homeowner Flood Insurance Affordability Act (S. 1926), sponsored by Senators Menendez (D-NJ) and Isakson (R-GA).
On Jan. 16, 2014, NAR joined with a group of 18 other real estate associations in sending a comment letter to Senate Finance Committee Chairman Max Baucus (D-MT) regarding a staff discussion draft released by the Committee on Nov. 21, 2013.
On Jan. 16, 2014, Congress passed the Omnibus Appropriations Bill (H.R. 3547) to fund the federal government through Sept. 30, 2014.
On Jan. 14, 2014, NAR submitted a statement for the record to the U.S. House Financial Services Subcommittee on Financial Institutions and Consumer Credit hearing on "How Prospective and Current Homeowners will be Harmed by the CFPB's Qualified Mortgage Rule."
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The Federal Housing Administration (FHA) has temporarily waived the blanket hazard, flood, liability and other insurance requirements in Mortgagee Letter 2011-22 for Manufactured Housing, Detached and Common Interest Housing Projects.
The White House Office of Management and Budget (OMB) has reportedly requested that EPA clarify whether the "significance" of a connection between smaller waterbodies and larger downstream waters marks a technical or policy issue -- echoing questions raised by a coalition of regulated stakeholders, including NAR, who are concerned that the agency may not be adequately weighing the issue as it works to clarify jurisdiction of the Clean Water Act (CWA).
The U.S. Court of Appeals for the District of Columbia ruled January 14 that key elements of the Federal Communications Commission’s (FCC’s) 2010 Open Internet Order are invalid.
The Consumer Finance Protection Bureau (CFPB) is asking the public for comments about the real estate transaction closing process.
On Dec. 20, 2013, the Federal Housing Administration (FHA) announced a 25-day extension for communities who wish to request a change to high cost area loan limits.