Nation: NAR Supports Sanford/Sherman G-fee Bill

NAR along with several housing and mortgage industry trade groups sent a letter thanking Reps. Sanford (R-SC) and Sherman (D-CA) for reintroducing H.R. 916, the “Risk Management and Homeowner Stability Act.” The legislation would amend the Congressional Budget and Impoundment Control Act of 1974 to prohibit the use of Fannie Mae and Freddie Mac’s guaranteeContinue reading “Nation: NAR Supports Sanford/Sherman G-fee Bill”

Nation: NAR Proposes Changes to Condo Certification Requirements

On November 28, 2016, NAR submitted a comment letter to the Federal Housing Administration (FHA) regarding proposed changes to FHA Condominium certification requirements. Many of the proposed changes align with areas REALTORS® have expressed a need for more lenience and reflects NAR advocacy on these matters. The NAR letter specifically asks FHA to: Remove theContinue reading “Nation: NAR Proposes Changes to Condo Certification Requirements”

FHFA Improves Note Sale Program

On March 2 the Federal Housing Finance Agency enhanced requirements for sales of non-performing loans by Freddie Mac and Fannie Mae (the GSEs).  In a letter last year NAR raised concerns that this disposition strategy gives investors an advantage over potential owner occupant buyers.  NAR requested more information on the sale of the notes andContinue reading “FHFA Improves Note Sale Program”

Fannie Mae Revises Derogatory Credit Event Rule

According to the Denver Business Journal, a new rule imposed by Fannie Mae (Federal National Mortgage Association) could make it more difficult for would-be homebuyers who have had a short sale in the past to buy a home. The rule, which went into effect on August 16, will extend the mandated waiting period to qualifyContinue reading “Fannie Mae Revises Derogatory Credit Event Rule”

FHFA Concerned about Eminent Domain Proposal

A controversial plan that would allow municipal governments to rescue underwater homeowners by taking over their loans through the power of eminent domain has been receiving some attention and consideration by several localities, most notably the City of Richmond, California.  While NAR policy leaves it to the states and not the federal government to establishContinue reading “FHFA Concerned about Eminent Domain Proposal”

Larimer REALTORS Meet with Rep. Polis

A group of 21 REALTORS and staff met with Congressman Jared Polis recently during the August Recess. The meeting was scheduled at Polis’s request; he has consistently expressed learning more about the market in Larimer County, which became part of his district in January. Polis said he opposes the PATH Act, a bill that includesContinue reading “Larimer REALTORS Meet with Rep. Polis”

Real Estate and the State of the Union

NAR has offered its analysis recently regarding President Obama’s State of the Union speech and what it means for the real estate industry. First and foremost the President argued that the federal government should streamline rules that are making home purchases and mortgage refinances difficult for creditworthy households. He also urged Congress to tackle taxContinue reading “Real Estate and the State of the Union”

Government-Sponsored Loan Delinquency Rates Down

The delinquency rate measured 12 months after origination has improved dramatically on mortgages backed by Fannie Mae and Freddie Mac. According to the FHFA’s first quarter report on the enterprises, the 12-month delinquency rate is now back to 2002 levels even though the unemployment rate is significantly higher than it was in 2002 and priceContinue reading “Government-Sponsored Loan Delinquency Rates Down”

Presidential Candidates Differ on REALTOR Issues

NAR does not endorse a presidential candidate, but REALTORS® obviously want to know where the candidates stand on real estate issues. A recent interview in REALTOR® magazine sheds light on their positions. Below you’ll find a summary of both candidates’ answers to important questions that focus on REALTOR® issues. Home Ownership Incentives The federal governmentContinue reading “Presidential Candidates Differ on REALTOR Issues”