Bipartisan legislation supported by NAR was introduced in the Senate and House that would subject Property Assessed Clean Energy (PACE) loans to the same Truth in Lending Act (TILA) consumer protections required of other mortgage products. In the Senate, Senators Tom Cotton (R-AR), Marco Rubio (R-FL), and John Boozman (R-AR) introduced the legislation. The HouseContinue reading “Nation: PACE Reform Bills Introduced”
Tag Archives: house of representatives
Nation: Flood Insurance Hearings
The House of Representatives held the first of several hearings on the National Flood Insurance Program (NFIP). The Senate held a hearing on March 14. The NFIP must be reauthorized to continue selling flood insurance after September 30 of this year. The purpose of these hearings is to solicit ideas for how to restructure theContinue reading “Nation: Flood Insurance Hearings”
Colorado Association of REALTORS: CAR Launches Call for Action
CAR and its allies want everyone to participate in the Call for Action (CFA) on SB-156 “Homeowners’ Association Construction Defect Lawsuit Approval Timelines.” Sponsored by Sen. Owen Hill and Representatives Lori Saine and Cole Wist, this bill focuses on the need for mediation or arbitration prior to litigation for construction defects. The bill passed itsContinue reading “Colorado Association of REALTORS: CAR Launches Call for Action”
House Unanimously Passes Condo Bill
The House of Representatives passed, “Housing Opportunities through Modernization Act” with a unanimous vote of 427-0. This legislation includes three major provisions that NAR supports. 1. The legislation solves a number of concerns regarding FHA’s condo rules by reducing owner occupancy ratio to percent, directing FHA to streamline condo certification process, providing more flexibility forContinue reading “House Unanimously Passes Condo Bill”
VA Loan Bill Passes House
Last week the House of Representatives passed legislation which included a provision to eliminate the cap on VA loan limits. The bill, H.R. 3016, “Veterans Employment, Education, and Healthcare Improvement Act”, includes an amendment that would allow veterans to purchase a home in high-cost areas, by eliminating the maximum loan amount on VA loans. AsContinue reading “VA Loan Bill Passes House”
Congress to Reform Flood Insurance in 2016
In January, the House of Representatives held the first in a series of roundtables and hearings on the National Flood Insurance Program (NFIP). The program must be reauthorized before September 30, 2017 in order to keep selling flood insurance. Prior to the most recent reauthorization, Congress passed 18 month-to-month extensions and twice, the NFIP shut down,Continue reading “Congress to Reform Flood Insurance in 2016”
Colorado Legislators Fight For Transportation Projects
Congressman Jared Polis tried to amend the long-term transportation bill recently passed by the House of Representatives to give I-25 “high priority corridor” status. This would have given the highway preference in consideration for funding under the newly created Nationally Significant Freight and Highway Projects program. Unfortunately, he was not successful in his effort. PolisContinue reading “Colorado Legislators Fight For Transportation Projects”
Nation: House Tackles Transportation Bill
The U.S. House of Representatives has already spent hours this week working on a $325 billion long-term transportation bill. They’re under the gun because a temporary highway bill expires on Nov. 21. The House Rules Committee tacked on 81 amendments to the bill, which includes an extension of the Export-Import Bank, IRS provisions and other non-transportationContinue reading “Nation: House Tackles Transportation Bill”
House Passes Gas Tax Patch
The House of Representatives passed a two-month extension of federal transportation funding, delivering a victory to Democrats who have long preferred a shorter extension. The Measure is intended to prevent an interruption in the nation’s infrastructure funding that is currently scheduled to begin on May 31. Senate Majority Leader Mitch McConnell (R-Ky.) is also movingContinue reading “House Passes Gas Tax Patch”
House Committee Passes Mortgage Choice Act
The House Financial Services Committee passed H.R. 685, “The Mortgage Choice Act” with bipartisan support after an intense effort by NAR and coalition partners. The Committee vote was 43-12. The legislation would reduce discrimination against affiliate lenders in the calculation of fees and points under various mortgage rules. The bill is now ready for considerationContinue reading “House Committee Passes Mortgage Choice Act”
IRES MLS: Come Home to Colorado 