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.
Last week, the Senate Banking Committee held a hearing entitled, "Oversight of FHA: Examining HUD's Response to Fiscal Challenges".
NAR, in coalition with the National Association of Home Builders, sent a letter to the United States Senate urging swift passage of S. 2231, the “Small Business Lending Enhancement Act of 2012,” sponsored by Senator Udall (D-CO) and S. 3522, the “Responsible Homeowner Refinancing Act of 2012,” introduced by Senators Menendez (D-NJ) and Boxer (D-CA).
The House Subcommittee on Financial Institutions and Consumer Credit and the House Subcommittee on Insurance, Housing and Community Opportunity held a joint subcommittee hearing on “Examining the Impact of the Proposed Rules to Implement Basel III Capital Standards.”
NAR in coalition with other industry partners, sent a letter to the Senate Committee on Finance and the Senate Committee on Energy & Natural Resources in support of S. 3591, the Commercial Building Modernization Act (CBMA)
The Federal Trade Commission (FTC) has issued warning letters to 20 companies, including real estate agents, home builders and lead generators, about possible violations of the Mortgage Acts and Practices Advertising (MAP) Rule.
FHA announced that it is extending the availability of the temporary waiver of its regulation 24 CFR 203.37a(b)(2) that prohibits the use of FHA financing to purchase single family properties that are being resold within 90 days of the previous acquisition.
FHA released their Annual Report to Congress and the Actuarial Review of the 2012 Financial Status of the FHA Mutual Mortgage Insurance Fund.
The U.S. Fish and Wildlife Service and the National Marine Fisheries Service (NOAA Fisheries) have reopened the public comment period on a joint proposal to simplify the process of identifying habitat essential to the survival and recovery of species protected by the Endangered Species Act (ESA).
NAR submitted comments to the Consumer Financial Protection Bureau (CFPB) on the 1100 page RESPA/TILA harmonization regulatory proposal.
On Wednesday, Oct. 24, 2012, NAR submitted comments to the Consumer Financial Protection Bureau (CFPB) on the CFPB's strategic plan for the next five years.