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 Tuesday May 14, 2013 Senator Joe Manchin (D-WV) and Senator Mike Johanns (R-NE) introduced S. 949 "The Consumer Mortgage Choice Act" in the United States Senate. The legislation addresses discrimination in the calculation of fees and points under the 3% cap on fees and points in the Qualified Mortgage rules.
On March 18, 2013, NAR, in coalition with other industry groups, sent a letter to the Senate in support of a proposed amendment to the fiscal year 2014 Senate Budget Resolution which would implement S. 336, the Marketplace Fairness Act.
Fifty-one bipartisan members of the U.S. House of Representatives sent a letter to Acting Administrator of the EPA Robert Perciasepe addressing the EPA’s recent proposed rule on lead paint in commercial buildings.
President Gary Thomas testified at a hearing of the House Ways and Means Committee entitled “Tax Reform and Residential Real Estate.”
Senators introduced S. 766 to grandfather existing communities eligible for rural housing programs.
The Department of Housing and Urban Development (HUD) plans to close sixteen field offices.
Thirty Republican senators are pressing the Obama administration to scrap its controversial guidance for clarifying convoluted oversight of wetlands and other water resources as U.S. EPA prepares to take up a rulemaking on the issue.
Immigration reform remains a top priority of the Administration and many in Congress. On April 16, 2013, a bipartisan group of 8 Senators introduced a comprehensive immigration reform bill, S. 744, The Border Security, Economic Opportunity, and Immigration Modernization Act.
NAR President Gary Thomas testified this week about the importance of the FHA mortgage insurance program.
FHA may need $943 million from the Treasury to hold 30 years' worth of reserves.