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 Weekly Report newsletter and check the "legislative & regulatory issues" box.
NAR participated in a roundtable hosted by the the Small Business Administration and the U.S. Department of Justice for interested stakeholders on issues related to website accessibility, physical accessibility and service animals. NAR shared concerns related to clear website accessibility standards and some of the proposed requirements that ignore practical challenges.
NAR submitted comments to the National Credit Union Administration (NCUA) in response to a proposal to raise the threshold for requiring an appraisal in commercial real estate transactions to $1,000,000 from the current level of $250,000. NAR believes an increase to $500,000 would be appropriate at this time.
NAR supported Ms. Kraninger’s confirmation as a thoughtful, experienced leader who will ensure necessary transparency of Bureau activities and rulemakings.
The House and Senate passed a two-week extension of the National Flood Insurance Program. By extending flood insurance as part of the continuing resolution, the next extension could be part of a long-term funding agreement, potentially running through September of next year.
The U.S. House of Representatives passed a one-week extension of the National Flood Insurance Program, preventing lapse of this important program.
The Appraisal Foundation released a document examining best practices for requests to appraisers for a reconsideration of a completed appraisal.
The House and Senate extension prevents a lapse in this critically important insurance.
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") released a proposed rule that would increase the current threshold for residential real estate transactions requiring an appraisal to $400,000.
NAR sent a letter to the Office of the Comptroller of the Currency (OCC) in response to the agency’s advanced notice of proposed rulemaking (ANPR) that requested input on whether changes and/or updates are needed to the Community Reinvestment Act (CRA).
NAR legislative staff met with House Financial Services Committee Chairman Jeb Hensarling (R-TX) to discuss his recent housing finance reform discussion draft called the “Bipartisan Housing Finance Reform Act of 2018,” which is cosponsored by Rep. John Delaney (D-MD).