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.
CFPB Director Kraninger provided her semi-annual report to Congress to discuss current updates and developments at the Bureau. She also provided some insight on the qualified mortgage (QM) patch, stating that the Bureau is working on a plan as the transition to end the QM patch is forthcoming.
The Terrorism Risk Insurance Program (TRIP) expires at the end of 2020 unless Congress reauthorizes it.
The DC Circuit Court of Appeals upheld the FCC’s decision but found that the FCC had overstepped its authority when it banned states from enacting their own net neutrality rules.
Senators Grassley (R-IA) and Leahy (D-VT) introduced the EB-5 Reform and Integrity Act of 2019, which includes reform and long-term reauthorization of the the EB-5 Regional Center Program.
Congress extends EB-5 Regional Center Programs authorization through November 21, 2019.
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (collectively “the Agencies”) adopted a final rule increasing the threshold for requiring an appraisal in residential real estate transactions from $250,000 to $400,000.
The Internal Revenue Service this week released final guidance regarding a safe harbor to help owners of real estate enterprises determine whether they qualify for the new 20% deduction for “qualified business income.”
H.R. 1595 creates a safe harbor for federally-insured financial institutions to provide services to cannabis-related businesses in states that have legalized the substance.
The House Financial Services Committee passed a number of NAR-supported bills to expand access to credit.
The Congressional Western Caucus, chaired by Rep. Paul Gosar (R-AZ), held a roundtable on 9/24 with several House members and officials from the Department of Interior to discuss a 19-bill draft legislative package they will be introducing to reform the Endangered Species Act.