By Chris Polychron, First Vice President-Nominee, National Association of REALTORS® As one educator said, “America is a land of taxation that was founded to avoid taxation.” So I think Tax Day is a good opportunity to talk about the tax benefits that go along with home ownership. Since 1913, when the federal income [...] Click Here To View More
Federal Appeals Judge Scraps EPA Veto, Agrees with NAR on Mountaintop Coal Mine
April 9, 2012 U.S. EPA overstepped its authority when it vetoed a Clean Water Act permit issued for a sprawling mountaintop-removal coal mining project in West Virginia, a federal judge ruled today. At issue is EPA's veto last year of the "dre... Click Here To View More
Avoid Destruction, Be Disruptive
By Brian Summerfield, Online Editor, REALTOR® Magazine During the early 20th Century, economist Joseph Schumpeter popularized the concept of “creative destruction,” which refers to the upheaval of old processes and technologies and their replacement by more innovative ones. The difference between Schumpeter’s time and our own as far as creative destruction goes is speed. Today, [...] Click Here To View More
Podcast Discusses New FTC Business Opportunity Rule
March 12, 2012 The NAR Legal Affairs Podcast for March is devoted to a discussion of the FTC Business Opportunity Rule which became effective March 1. NAR Attorney Finley Maxson and William Gilmartin of NAR Government Affairs discuss the implications o... Click Here To View More
Bank of America Implements Short Sales Change
April 11, 2012 On April 14, 2012, Bank of America will implement new procedures for completing short sale transactions through the Equator platform. With the continued development of its online transaction portal to communicate with borrowers and autho... Click Here To View More
House Subcommittee Passes FHA Bill
February 13, 2012 The Housing and Insurance Subcommittee of the House Financial Services Committee last week passed the "FHA Emergency Fiscal Solvency Act" (no bill number yet). NAR supported the measure which strengthens FHA's financial ... Click Here To View More
NAR Recommends Enhancements to Proposed Seller Concessions Rule
April 2, 2012 This week, National Association of REALTORS® (NAR) President, Moe Veissi, sent a letter (PDF) to Federal Housing Administration (FHA) Acting Commissioner, Carol Galante, on a proposed rule amending permitted seller concessions. N... Click Here To View More
House Committee Passes FHA Bill
April 2, 2012 The House Financial Services Committee passed H.R. 4264, the “FHA Emergency Fiscal Solvency Act of 2012 (PDF), introduced by Rep. Judy Biggert (R-IL). NAR supported the measure which strengthens FHA's financial solvency by ... Click Here To View More
NAR Comments on FHFA PACE Proposal
April 2, 2012 NAR recently commented on an Advanced Notice of Proposed Rulemaking (ANPR) issued by the Federal Housing Finance Agency (FHFA) on Property Assessed Clean Energy (PACE) programs. PACE programs allow local governments to provide homeowners ... Click Here To View More
Lawmakers Raise Concerns on PCCRA
April 2, 2012 On March 26, 2012, Reps. Bachus (R-AL) and Garrett (R-NJ) issued a letter expressing concern to six banking agencies regarding their risk retention proposal, which contained a requirement that securitizers set aside the profits from sales... Click Here To View More
NAR Comments on Consumer Privacy Framework
April 2, 2012 On March 26, NAR submitted comments to the National Telecommunications and Information Administration (NTIA) on the Administration’s recently release Consumer Privacy Framework. In the comments NAR stressed that it is critical that ... Click Here To View More
New Legislation Would Extend Mortgage Cancellation Relief
April 2, 2012 Three bills have been introduced by members of the tax-writing committees that would extend the 2007 mortgage cancellation relief that is currently scheduled to expire at the end of 2012. Senators Stabenow (D-MI) and Heller (R-NV) have in... Click Here To View More
Property Management Firm Pays $15,000 Fine Following Data Breach
April 2, 2012 On March 21st the Massachusetts Attorney General announced that a property management firm was fined $15,000 after the theft of a company laptop containing the personal information of over 600 Massachusetts residents. According to the Mas... Click Here To View More
NAR: The Countdown Is On
The countdown to the Rally to Protect the American Dream is officially on. NAR Vice President & Liaison to Committees, D.J. Snapp, talks about how important it is for state and local associations to spread the word to their members about the Rally. He also shares some tools, available from NAR, that will make it [...] Click Here To View More
Federal Reserve Issues Policy Statement on Rental of REOs
April 9, 2012 On Thursday, April 5, 2012, the Federal Reserve Board (Fed) issued a policy statement clarifying policies regarding the rental of REO properties acquired by banks through foreclosure. In the statement, the Fed explained that its general p... Click Here To View More
NAR Sends Letter to 6 Regulators on REO Disposition
April 2, 2012 On March 28, 2012, NAR President Moe Veissi sent a letter to the Federal Reserve Board, Federal Deposit Insurance Corp., Department of Housing and Urban Development, Federal Housing Finance Agency, Department of the Treasury, and Office o... Click Here To View More
Lawmakers Raise Concerns on PCCRA
April 2, 2012 On March 26, 2012, Reps. Bachus (R-AL) and Garrett (R-NJ) issued a letter expressing concern to six banking agencies regarding their risk retention proposal, which contained a requirement that securitizers set aside the profits from sales... Click Here To View More
Bank of America Announces Mortgage to Lease Pilot Program
April 2, 2012 On March 23, 2012, Bank of America (BoA) announced that it was going to be offering a limited number of delinquent borrowers an opportunity to leaseback their homes after agreeing to execute a deed-in-lieu of foreclosure. The bank said th... Click Here To View More
Florida Housing Recovery Underway!
Florida’s housing market had increased pending sales, higher median prices and a reduced inventory of homes for sale in March, according to Florida Realtors® latest housing data. “With the continued steep decline of inventory, historically low interest rates and buyers no longer willing to wait on the sidelines, Florida’s real estate market continues on its road to recovery,” says 2012 Florida Realtors President Summer Greene, regional manager of Better Homes and Gardens Real Estate Florida 1st in Fort Lauderdale. “The latest numbers show that pending sales are up almost 30 percent for single-family homes and almost 20 percent for townhomes [...] Click Here To View More
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