Blog
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 […]