Washington Report

Advocacy Updates from Washington D.C.

The Washington Report covers legislative and regulatory policy activities, and is compiled by NAR's Government Affairs policy staff. To receive this content via email, subscribe to NAR's Weekly Report newsletter and check the "legislative & regulatory issues" box.

Recent

On Dec. 7, 2017, the Department of Housing and Urban Development announced that HUD will no longer insure mortgages encumbered with a Property Assessed Clean Energy assessment. NAR had expressed concern that PACE liens would take a first-lien position over FHA in instances of default or foreclosure, undermining the government's collateral position and disrupting the secured lending process. 
On December 8, 2017, the National Flood Insurance Program (NFIP) was extended as part of a continuing resolution to keep the government open for two weeks. NAR will continue working with Congress to ensure that the NFIP does not lapse while the Senate works on its version of the 5-year reauthorization and reform measure. 

According to a recent report by the U.S. Global Change Research Program, wildfires in California have increased in frequency and severity over the past decade. As a result, these wildfires are causing more deaths and destroying more homes due to that fact that more people have moved into areas with high wildfire risk. 

On Friday, Nov. 24, CFPB Director Richard Cordray formally resigned and promoted CFPB Chief of Staff Leandra English to the position of acting Director. The President appointed Office of Management and Budget Director Mick Mulvaney to serve as acting Director until a full-time director is nominated by the President and confirmed by the Senate. This prompted a legal challenge by English. 

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