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 Weekly Report newsletter and check the "legislative & regulatory issues" box.
The Department of Housing and Urban Development (HUD) released Mortgagee Letter 2018-01, which provides for revised loss mitigation options for Federal Housing Administration (FHA) borrowers affected by Hurricanes Harvey, Irma, and Maria and the 2017 California wildfires.
The Administration has issued a proposed rule expanding the availability of short-term, limited-duration health insurance. The proposed rule changes the maximum duration of these policies to less than twelve months, which is higher than the current maximum duration of less than three months.
The Internal Revenue Service (IRS) has issued a news release clarifying that in many cases, interest paid on home equity loans remains deductible under the new tax reform law.
The Trump Administration on Monday, Feb. 12, released its long-awaited infrastructure plan, which proposes at least $1.5 trillion in new investment across infrastructure asset classes; incentivizing greater state and local funding; shortening the project permitting process to two years; investing in rural projects; and improving worker training.
The National Association of Secretaries of State (NASS) has been focused on issues and policies surrounding remote notarization, which involves audio/video applications to allow a person to appear before a notary.
The Consumer Financial Protection Bureau (CFPB) has issued another Request for Information (RFI), focused on the agency’s supervisory role. The CFPB has already issued several RFIs, which are being used to help the new Acting Director and staff assess overall efficiency and effectiveness of the agency.
The House of Representatives voted to pass HR 620, the ADA Education and Reform Act, by a vote of 225-192.
NAR participated in an Industry Roundtable Discussion at the Consumer Financial Protection Bureau (CFPB) with Acting Director Mulvaney. The purpose of the roundtable was to foster an open dialogue between new agency leadership and roundtable participants, discussing the priorities for the future and united efforts.
NAR President Elizabeth Mendenhall sent a letter to the Department of Housing and Urban Development (HUD) Secretary Ben Carson asking for an extension of the Federal Housing Administration (FHA) foreclosure moratoriums for the Presidentially-Declared Major Disaster Areas associated with Hurricanes Harvey, Irma, and Maria.
The Consumer Financial Protection Bureau (CFPB) has issued a third Request for Information (RFI) focused on the agency’s conduct of enforcement proceedings.