Blog

Millions of Middle-Income Homeowners Stand to Lose Under “Big 6” Tax Proposal

September 28, 2017

A group of legislators and administration leaders known as the “Big 6” released last week an outline for comprehensive tax reform that if enacted, according to the National Association of Realtors®, could lead to a tax on homeownership for millions. According to the Big 6’s framework for tax reform, changes to the current tax code […]

National Flood Insurance Program Extension Moves Forward

September 8, 2017

On Thursday, September 7, the United States Senate voted to pass a three-month extension of the National Flood Insurance Program (NFIP). The House of Representatives passed the legislation on Friday, September 8, 2017 and the President signed the bill into law later that day. This legislation ensures that the NFIP will not lapse on September 30, 2017, […]

Turn the Tide: Tell Congress to Reauthorize the NFIP

August 31, 2017

Please take action and tell your Member of Congress that the National Association of REALTORS® (NAR) supports H.R. 2874, “The 21st Century Flood Reform Act.” The Problem: The National Flood Insurance Program (NFIP) is scheduled to expire on September 30, 2017. Millions of home and small business owners in more than 20,000 communities nationwide require […]

CFPB Final Rule Clear on Ability to Share Closing Disclosures

July 10, 2017

On July 7, 2017, the Consumer Financial Protection Bureau (CFPB) released the final rule amending the “Know Before You Owe” (KBYO or TRID) mortgage disclosure rule. As advocated for by NAR, the final rule clarifies the ability to share the Closing Disclosure (CD) with third parties – a victory for real estate professionals nationwide. As […]

In the Know: NAR Analyzes Federal Budget Proposal Impact on Housing

March 31, 2017

On March 16, 2017, President Trump released his budget for the 2018 fiscal year, which begins on October 1.   The proposal would eliminate funding for community development block grants and HOME housing block grants as part of a 13-percent cut in HUD programs. FHA mortgage insurance appears to be left untouched. Funding for flood mapping, […]

Need to Know: CFPB Consent Orders

March 3, 2017

On January 31, 2017 , the Consumer Financial Protection Bureau (CFPB) announced that it entered into consent orders with a mortgage lender, mortgage servicer and two real estate brokers for violations of the Real Estate Settlement Procedures Act (RESPA). As part of the consent orders, the four companies agreed to pay $4 million. The two […]

NAR Update: Tax Reform and RESPA Fines

February 24, 2017

A tax reform plan by the House Ways & Means Committee would eliminate the property tax deduction, double the standard deduction, and lower tax rates. Also being considered is repeal of 1031 tax-deferred exchanges. REALTORS® expressed concerns over the changes at a meeting two weeks ago with leaders of the Ways & Means Committee. The […]