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.
NAR participated in a Department of Housing and Urban Development (HUD) Policy Development & Research Stakeholder "HUDdle" on Qualified Opportunity Zones (QOZs).
The Senate Banking Committee held a hearing on "The Reauthorization of the Terrorism Risk Insurance Program." NAR submitted a statement for the record for the hearing which expressed strong support for TRIP, and urged the Committee to enact a long-term reauthorization without disrupting the program.
NAR remains invested in protecting access to Association Health Plans (AHPs) and supporting state and local associations’ pursuit of these plans as an affordable and comprehensive health insurance benefit for REALTORS® and their families.
Five federal regulatory agencies - the Federal Reserve, FDIC, OCC, Farm Credit and National Credit Union Administrations - published final regulations clarifying lender acceptance of private flood insurance. These rules will take effect on July 1.
NAR participated in an industry conference focused on “The Changing State of Play for Association Health Plans (AHPs),” with numerous national and state trade associations interested in or already pursuing AHPs.
The House Financial Services Committee passed the Corporate Transparency Act of 2019 (H.R. 2513). This Act requires limited liability companies (LLCs) and s-corporations formed under state law to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN).
The President is expected to sign H.R. 299, the "Blue Water Navy Vietnam Veterans Act." This legislation includes language which will eliminate the cap on the VA home loan guarantee.
The U.S. Department of Agriculture (USDA) Rural Housing Service will begin to assess and collect a one-time $25 technology fee from lenders on each closed loan in the Section 502 single family guaranteed loan program.
By a unanimous vote of 59 to 0, the House Financial Services Committee approved HR 3167: the National Flood Insurance Program (NFIP) Reauthorization Act, sending the bill to the U.S. House of Representatives for consideration.
On June 6, 2019, the National Flood Insurance Program was extended to September 30, 2019.