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.
H.R. 5419 would harmonize the Fair Labor Standards Act (“FLSA”) with the Internal Revenue Code (“IRC”) so that direct sellers and qualified real estate agents are consistently defined as independent contractors across both statutes.
The ROV process is critical for consumers to raise questions about potential errors or omissions in an appraisal and fundamental to confidence in the process. Check out NAR's comments to the Consumer Financial Protection Bureau (CFPB) and the bank regulators.
Check out the coalition letter sent to congressional leaders urging an immediate extension of the National Flood Insurance Program (NFIP).
Check out NAR's response to the joint banking and finance regulators on their proposed joint rule to implement the statute on automated valuation models (AVMs) regulation.
Check out NAR's response to the Federal Housing Finance Agency's request for input on how it should set the upfront fees charged by Fannie Mae and Freddie Mac.
NAR believes an additional layer of federal regulations will only serve to create confusion among housing providers, lenders, and renters.
Banks' ability to provide mortgage lenders with lines of credit as well as support for the commercial and construction industries could be affected.
The White House released two announcements last week, outlining actions to boost the housing supply, and offering guidance for multifamily properties.
Issues this week: artificial intelligence, climate change, rural small businesses, health care, and more.
Check out the three new action steps announced by the White House in its crackdown on rental housing junk fees.
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