REALTORS® of South Central Kansas Logo

REALTORS® of South Central Kansas News

National Association of REALTORS® News

Sunday, July 24 2016 6:37 AM
Categorized In REALTORS®
  • Senate Passes H.R. 3700…The U.S. Senate unanimously passed H.R. 3700, the "Housing Opportunity Through Modernization Act," on July 14. The legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and has long been supported by NAR. President Obama is expected to sign it. News release. More.
  • Voice for Real Estate: Housing Symposium, Condo Win…The latest Voice for Real Estate news video takes a look at the Housing For All symposium NAR hosted this week. Hundreds of housing experts joined NAR to explore solutions to affordable housing and homelessness challenges. NAR Vice President for Government Affairs Sherri Meadows hosted the event, which took place over two days in Washington. The video also looks at NAR's big FHA condo loan win, surveillance video issues, and NAR efforts to curb Americans with Disabilities Act lawsuits. Access and share the video.
  • NAR Supports Financial Choice Act…NAR has sent a letter to the House Financial Services Committee supporting the Financial Choice Act (FCA), which would update the Dodd-Frank banking regulations. Among other changes, the FCA would make adjustments to the Truth in Lending Act’s definition of "points and fees," allowing for greater consumer choice in mortgage and settlement services under the Ability to Repay/Qualified Mortgage (QM) rule. Details.
  • NAR Urges Changes to Distressed Asset Program…NAR has asked the FHA to require investors to prioritize owner-occupants when looking to sell a foreclosed property as part of the agency’s efforts to enhance the Distressed Asset Stabilization Program. In a letter to HUD Secretary Julián Castro, NAR President Tom Salomone also expressed support for the FHA’s decision to involve community partners in the acquisition of loan pools through expansion of its auction program to nonprofits. More.
  • Senate Passes FAA Bill…The Senate has passed the Federal Aviation Administration Reauthorization Act of 2016, which funds the FAA through Sept. 30, 2017, and was approved by the House earlier in July. The bill includes a provision that allows the FAA to authorize Section 333 exemption holders to operate drones for beyond-visual-line-of-sight and night flights. More.

National Association of REALTORS® News

Sunday, July 17 2016 7:22 AM
Categorized In REALTORS®
  • Changes to Appraiser Requirements…Supervisory Appraisers no longer need to be state certified and in good standing in the jurisdiction where a Trainee Appraiser they supervise conducts appraisals under changes made by the Appraiser Qualifications Board. Supervisory Appraisers must still be state certified appraisers in good standing for a minimum of three years prior to supervising other appraisers. The changes, which took effect July 1, are in line with previous requests made by NAR. More.

  • House Panel Approves ADA Updates…The House Judiciary Committee on July 7 approved a bill, the ADA Education and Reform Act of 2015 (H.R. 3765), that would curb the practice of so-called “drive-by” lawsuits, in which litigants attempt to force settlements that consist primarily of attorneys’ fees for easily correctable violations of the Americans with Disabilities Act. NAR, along with IREM and CCIM, joined a coalition letter sent to the committee in support of the bill, known as H.R. 3765. Details.

  • Proposed Changes to Water Regulations…The U.S. Army Corps of Engineers has proposed changes to the process it uses to issue streamlined authorizations for dredge-and-fill activities that the Corps has determined will have minimal adverse effects on the aquatic environment. NAR will be commenting on the proposed revisions. More.

  • Voice for Real Estate: Brexit, Drones, Flood Ins…In case you missed it: The latest Voice for Real Estate news video looks at the Brexit impact on U.S. real estate, the federal government’s final rule on the commercial use of drones, testimony from a REALTOR® on federal flood insurance, and the Call for Action on condo financing, The video also excerpts from, and links to, the recent tax planning webcast. Click here to watch.

National Association of REALTORS® News

Saturday, July 2 2016 4:57 AM
Categorized In REALTORS®
  • 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.