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.
NAR sent a joint letter to the Federal Trade Commission (FTC), in anticipation of the FTC's announced hearing on Data Privacy and Security on November 6-7.
S. 3021, "America's Water Infrastructure Act," would authorize numerous port revitalization, flood control, drinking water and water storage projects.
Fannie Mae is currently offering appraisal waivers in exchange for a mandatory home property inspection, for properties in high-needs rural areas as determined under the Duty to Serve Underserved Markets rule.
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."