Gov't Affairs, Govt - CO Assoc. of Realtors®, Govt - State of Colorado

Colorado Association of REALTORS: Legislative Update

HB 1279 “Construction Defect Actions Notice Vote Approval” CAR Position – Support. This bill passed the legislature and will be signed by the Governor next week, which is a major win for CAR. HB-1279 focuses informed consent and does nothing to stand in the way of individual owners who have a legitimate construction issue from… Continue reading Colorado Association of REALTORS: Legislative Update

Gov't Affairs, Govt - Nation

Nation: Why Home Ownership Matters

According to a study funded by the National Association of REALTORS® the for-sale housing industry is a key component of the gross domestic product (GDP), and an important driver for the overall economy. Since 1959, total housing-related spending, including both owners and renters, accounted for an annual average of 18.9 percent of GDP, and an… Continue reading Nation: Why Home Ownership Matters

Gov't Affairs, Govt - Nation

Nation: NAR Urges Mnuchin to Protect MID

In a letter dated March 10, 2017, NAR 2017 President William E. Brown urged new Treasury Secretary Steven Mnuchin to protect the current tax benefits of homeownership as the Trump Administration seeks to reform the federal income tax system. Referring to recent media reports where Mnuchin promised to leave “the mortgage interest deduction as is,”… Continue reading Nation: NAR Urges Mnuchin to Protect MID

Gov't Affairs, Govt - Nation, Govt - State of Colorado

Nation: HUD Suspends FHA Mortgage Insurance Premium Rate Cut

One of President Trump’s first executive orders suspended a 25-basis point fee reduction for FHA mortgage insurance premiums. NAR estimated that the fee reduction would have opened homeownership to an additional 30,000 to 40,000 homebuyers. The reduced premium would save the average FHA borrower $500 a year in insurance costs. The Department of Housing and Urban Development… Continue reading Nation: HUD Suspends FHA Mortgage Insurance Premium Rate Cut

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

Nation: NAR Endorses Carson

On Thursday, January 12th, Dr. Ben Carson testified before the Senate Banking Committee as the nominee for the Secretary of the Department of Housing and Urban Development. During the hearing, Dr. Carson defended the critical role of the FHA mortgage insurance program. He also spoke about the importance of the American Dream of homeownership. Following… Continue reading Nation: NAR Endorses Carson

Gov't Affairs, Govt - Nation

Nation: FHA Fund Improves

On November 15 the Federal Housing Administration (FHA) released its Annual Report to Congress and the FY2016 Actuarial Review of the Mutual Mortgage Insurance Fund Forward Loans.  The review shows that the Fund's capital reserve ratio has reached 2.32 percent and has improved by $43.9 billion since FY 2012.  This is the second year in… Continue reading Nation: FHA Fund Improves

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 - National Assoc. of Realtors® (NAR)

Nation: NAR Comments on TRID Rulemaking

On October 18, 2016, NAR sent a letter to the Consumer Financial Protection Bureau (CFPB) commenting on its recent proposed rule amending the Know Before You Owe (KBYO) regulation, or “TRID.” While KBYO has resulted in more transparency for consumers and better accountability of financial institutions, ongoing compliance issues remain, costing time and money for… Continue reading Nation: NAR Comments on TRID Rulemaking