Gov't Affairs, Govt - Nation

Nation: Trump Could Be Good for Real Estate

Inman News reported that Trump is interested in boosting homeownership, which bodes well for our industry. In particular, Trump has focused on deregulating the financial market in order to revive it. Furthermore, the GOP platform approved this summer includes changes to the Consumer Financial Protection Bureau and the possible repeal of the Dodd-Frank Act, both… Continue reading Nation: Trump Could Be Good for Real Estate

Gov't Affairs, Govt - Nation

Nation: Bill to Reform Dodd-Frank Introduced

Congressman Jeb Hensarling (R-TX), Chairman of the House Financial Services Committee, introduced the “Financial Choice Act” to reduce regulatory burdens and expand credit access to consumers and businesses.  NAR sent a letter to the Committee in support of several provisions in the bill including a revision to the Truth in Lending Act’s (TILA) definition of… Continue reading Nation: Bill to Reform Dodd-Frank Introduced

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

Get Ready For RESPA Changes

On November 20, 2013, the Consumer Financial Protection Bureau (CFPB) issued its final rule to integrate the Real Estate Settlement Procedures Act (RESPA) and Truth in Lending Act (TILA) disclosures and regulations. The final rule integrates existing disclosures with new requirements from the Dodd-Frank Act to improve consumer understanding of the mortgage process, aid in… Continue reading Get Ready For RESPA Changes

Gov't Affairs, Govt - Nation

Impact of the QM Rule

The qualified mortgage (QM) rule was implemented in January of 2014. It is the first of two rules that came from the Dodd–Frank Wall Street Reform and Consumer Protection Act that will impact the housing market. This law is intended to protect consumers by strengthening underwriting standards, but some have argued that the rules will… Continue reading Impact of the QM Rule

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

NAR, Coalition Continue to Push on QRM Definition

NAR, along with 50 other members of the Coalition For Sensible Housing Policy, recently submitted a letter to federal regulators asking that the standards used in the recently released Qualified Mortgage rule (QM) be used to define the Qualified Residential Mortgage (QRM). The similarity in these terms makes them easy to confuse, so a short… Continue reading NAR, Coalition Continue to Push on QRM Definition