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 Member's Edge newsletter.
For real estate professionals, the rule does not change their classification as independent contractors under the Internal Revenue Code.
Senators Rounds and Warner submitted an amendment to the CAREs2.0 stimulus legislation that would have required a GAO review of the FHFA's capital rule and its impact on interested parties.
Congress has passed legislation that will provide relief for veterans who have experienced a natural disaster.
NAR, along with coation partners, sent a letter to the Treasury and Federal Housing Finance Agency asking them to refrain from any rushed actions to end the conservatorship of Fannie Mae and Freddie Mac.
NAR's President Charles Oppler thanked Kathy Kraninger, Director of the of the Consumer Financial Protection Bureau, for her efforts to work with NAR on housing issues during the pandemic, and requested further changes to the qualified mortgage rule.
The rule issued by the Consumer Financial Protection Bureau (CFPB) will be implemented 60 days from today and the phase-in period ends on July 1st.
NAR sent a letter to the Treasury and FHFA urging them to refrain from any rushed actions to end the conservatorship of Fannie Mae and Freddie Mac.
The maximum loan limits for FHA forward mortgages will rise in 3,108 counties. In 125 counties, FHA’s loan limits will remain unchanged.
The FHA Mutual Mortgage Insurance Fund is well above its statutory minimum of 2% capital reserve ratio at 6.10%, an increase of 1.26% from last year.
The Geographic Targeting Order (GTOs) was extended through May 4, 2021. This order imposes data collection and reporting requirements on companies involved in certain residential real estate transactions.
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