is continuing to pressure Congress to pass three major pieces of legislation before the year is over:
Flood Insurance: H.R. 3370 / S. 1610. There are currently 142 cosponsors in the House & 24 cosponsors in the Senate. The call for action is still live so if you have not responded, please do! Our local response rates are below 10 percent. www.realtoractioncenter.com
Mortgage Cancellation Debt Relief: H.R. 2994 / S. 1187. The current provision is set to expire at the end of December without congressional action. There are currently 29 cosponsors in the House and 15 cosponsors in the Senate.
Mortgage Choice Act: H.R. 3211 / S. 1577. This legislation would amend the QM rule to treat affiliated closing costs the same as non-affiliated closing costs. There are currently 26 cosponsors in the House and 7 cosponsors in the Senate.
NAR is also urging Congress to support patent reform legislation. Apparently REALTORS have received threatening patent infringement letters from patent trolls seeking settlements for allegedly violating a license on commonly used products or technologies. The patent reform legislation will likely receive a floor vote very soon.