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National Association of REALTORS® News

Saturday, July 2 2016 4:57 AM
  • 95,000 Urge Senate Action on Condo Financing…If you have not already joined the tens of thousands of REALTORS® who have already responded to NAR’s Call for Action on FHA-insured condo financing, it just takes a visit to the REALTOR® Action Center to send a message urging senators to vote for legislation supported by NAR that would make it easier to buy a condo. The bill, S. 3083, would also streamline rural housing programs and is virtually identical to H.R. 3700, which the House passed unanimously in February.

  • NAR Leads Call to Reduce GSE Fees…NAR, joined by 24 other organizations, is urging the Federal Housing Finance Agency to reduce or eliminate loan-level price adjustments (LLPAs) charged by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. In a June 22 letter to FHFA Director Mel Watt, the consortium said that LLPAs combined with guarantee fees that have more than doubled since 2011 have effectively resulted in many qualified borrowers being priced away from the conforming loan market. Details.

  • Hearing Focuses on Banking Regulations…The Senate held a hearing on June 23 that focused on how regulations implemented to prevent another financial crisis may have unintentionally made it harder for small lenders to make financing available to their communities. More.

  • Why Won't That Lender Give You the Closing Disclosure?...Agents across the country say lenders are refusing to give them their client's closing disclosure, saying it's a privacy violation. But nothing in the law has changed to increase lenders' privacy liability, NAR says, and you can still access the document to advise your clients. The issue is a top story in The Voice for Real Estate news video.

  • Legal Pulse Newsletter for Third Quarter…Structural defects and water-related issues continued to show up in court decisions, but no licensees were held liable for damages over any disclosure issues in the cases published during the last quarter, according to the latest edition of NAR’s Legal Pulse newsletter. The report, for the first three months of 2016, looks at recent cases related to agency, property condition disclosures, RESPA and employment. Executive summary. Highlights video.

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