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 and check the "legislative & regulatory issues" box.
The Federal Housing Administration (FHA) released Mortgagee Letter 2018-06 which requires a second appraisal for certain Home Equity Conversion Mortgages (HECM).
The Tax Cuts and Jobs Act includes a 20 percent deduction from the net business income of sole proprietors and owners of S corporations, partnerships, and limited liability companies. However, it is unclear whether owners of rental real estate will be able to claim the deduction.
In a letter to House Natural Resources Committee, NAR called on the Committee to pass a package of proposed bills that would reform the Endangered Species Act.
NAR recently co-founded a broad multi-industry coalition (ranging from state Farm Bureaus to NFIB) to promote and preserve the Department of Labor (DOL) final rule expanding access to Association Health Plans (AHPs).
NAR, in coalition with other real estate industry groups, joined a letter to the U.S. House of Representatives Leadership opposing legislative efforts to undermine the Supreme Court's ruling in South Dakota v. Wayfair, the case decided in June 2018 which gives states the authority to require online sellers to collect and remit sales tax.
The U.S. Department of Agriculture (USDA) Rural Housing Service (RHS) released proposed changes to the single-family direct and guaranteed loan and grant programs.
On September 5, 2018, the U.S. House passed H.R. 1635, the "Empowering Students Through Enhanced Financial Counseling Act."
On September 5, 2018, NAR issued a press release to reflect on the 10 year anniversary of the Conservatorship of Fannie Mae and Freddie Mac.
On August 21, 2018, the Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (Enterprises) are ending their single-family rental pilot programs.
HUD announced that the Federal Housing Administration (FHA) has once again extended the foreclosure moratorium for borrowers in Puerto Rico and the U.S. Virgin Islands affected by Hurricane Maria.