National Association of REALTORS® News
Sunday, July 24 2016 6:37 AM
- Senate Passes H.R. 3700…The U.S. Senate unanimously passed H.R. 3700, the "Housing Opportunity Through Modernization Act," on July 14. The legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and has long been supported by NAR. President Obama is expected to sign it. News release. More.
- Voice for Real Estate: Housing Symposium, Condo Win…The latest Voice for Real Estate news video takes a look at the Housing For All symposium NAR hosted this week. Hundreds of housing experts joined NAR to explore solutions to affordable housing and homelessness challenges. NAR Vice President for Government Affairs Sherri Meadows hosted the event, which took place over two days in Washington. The video also looks at NAR's big FHA condo loan win, surveillance video issues, and NAR efforts to curb Americans with Disabilities Act lawsuits. Access and share the video.
- NAR Supports Financial Choice Act…NAR has sent a letter to the House Financial Services Committee supporting the Financial Choice Act (FCA), which would update the Dodd-Frank banking regulations. Among other changes, the FCA would make adjustments to the Truth in Lending Act’s definition of "points and fees," allowing for greater consumer choice in mortgage and settlement services under the Ability to Repay/Qualified Mortgage (QM) rule. Details.
- NAR Urges Changes to Distressed Asset Program…NAR has asked the FHA to require investors to prioritize owner-occupants when looking to sell a foreclosed property as part of the agency’s efforts to enhance the Distressed Asset Stabilization Program. In a letter to HUD Secretary Julián Castro, NAR President Tom Salomone also expressed support for the FHA’s decision to involve community partners in the acquisition of loan pools through expansion of its auction program to nonprofits. More.
- Senate Passes FAA Bill…The Senate has passed the Federal Aviation Administration Reauthorization Act of 2016, which funds the FAA through Sept. 30, 2017, and was approved by the House earlier in July. The bill includes a provision that allows the FAA to authorize Section 333 exemption holders to operate drones for beyond-visual-line-of-sight and night flights. More.