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 the Edge Up with NAR newsletter.
NAR supports the protection of, and efforts to further secure, the right of real estate salespeople to work as independent contractors and for brokers to choose to classify real estate salespeople as independent contractors.
NAR supports a joint employer standard that clearly defines the employer-employee relationship and that provides predictability in business relationships.
Improving FHA’s policies to promote the use small balance loans is a strong step towards achieving NAR's goal of supporting underserved communities and promoting homeownership.
NAR thanked the FHFA Director, Sandra Thompson, for her work on special purpose credit programs that include down payment assistance, which are two products that NAR supports.
NAR sent a letter to the Appraisal Foundation (TAF) to establish equivalency credit for education and experience in licensed and regulated fields involving valuation such as licensed real estate salespersons, real estate agents, and real estate brokers.
It is important that any data security standards be based on reasonableness, taking into account the diversity of different businesses covered by the regulation.
Please note that while the new HUD rule will significantly expand the flood insurance choices available to FHA borrowers, not all private policies will meet its definition of private flood insurance.
FHA’s substantial capital reserves are 9.2% above what is required by Congress and 3% higher than their previous year’s reporting.
The current GTO is effective beginning, October 27, 2022 until April 24, 2023, and includes additional jurisdictions in Texas.
The FHFA announced that it will implement a framework for adopting two new credit scoring models by Fannie Mae and Freddie Mac.
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