Gov't Affairs, Govt - Federal, Govt - Nation, Govt - National Assoc. of Realtors® (NAR)

FHA Announces Changes to Condo Rules

Federal Housing Administration Principal Deputy Assistant Secretary Ed Golding joined National Association of Realtors® President Chris Polychron to announce changes to FHA condominium policies. NAR has long advocated for broad improvements, arguing that existing policy is overly restrictive and keeps many consumers from buying and selling a home. Golding said the changes will be similar… Continue reading FHA Announces Changes to Condo Rules

Gov't Affairs, Govt - Federal, Govt - Nation, Govt - National Assoc. of Realtors® (NAR)

NAR President On Condominium Regulations

In October NAR 2015 President Chris Polychron testified before the Housing and Insurance Subcommittee of the House Financial Services Committee.  The hearing focused on H.R. 3700, the "Housing Opportunity Through Modernization Act of 2015," which NAR supports. This legislation includes a number of provisions to ease the sale and purchase of condominiums with FHA mortgage… Continue reading NAR President On Condominium Regulations

Gov't Affairs, Govt - Federal, Govt - Nation

NAR Comments On 2016 Home Price Index

On July 27, 2015, NAR President Chris Polychron submitted comments regarding changes to the national loan limit price index in response to a Federal Housing Finance Agency (FHFA) request.  The national limit determines the individual loan limits available under the GSEs and FHA and VA loan programs. NAR recommends a multifaceted methodology that accurately reflects… Continue reading NAR Comments On 2016 Home Price Index

Gov't Affairs, Govt - Nation

CFPB Proposes TRID Delay

On June 17 the Consumer Financial Protection Bureau (CFPB) announced that it would propose to delay the RESPA/TILA Integration or TRID until October 1 due to issues with the Administrative Procedures Act and also to push implementation further into the fall after school starts. NAR has been leading the effort to ensure an effective implementation… Continue reading CFPB Proposes TRID Delay

Gov't Affairs, Govt - National Assoc. of Realtors® (NAR)

REALTORS ASK CFPB for Grace Period

The National Association of REALTORS and its industry allies have asked the Consumer Financial Protection Bureau to implement a grace period for compliance with new rules for loan closing procedures and settlement documents. The Real Estate Settlement Procedures Act and Truth in Lending Act integrated disclosure rule is set to take effect August 1. When… Continue reading REALTORS ASK CFPB for Grace Period