On Wednesday, the Federal Housing Finance Agency (FHFA), HUD, and the Treasury Department issued the call for private investors, industry stakeholders, and community organizations to share their recommendations on how best to manage the disposition of government-owned properties. The agencies have issued an official Request for Information (RIF) to explore alternatives for foreclosed homes held…
Category Archives: Legislative Updates
New Proposed Rules Will Hurt Homeowners
Over the past few weeks the real estate industry has been on high alert to fight against the well-meaning, but poorly constructed Federal Proposal which states that any Qualified Residential Mortgages (QRM) require a 10-20% downpayment or 25-30% equity to refinance. This rule (which was written to comply with the Dodd-Frank bill) does not effectively…
Federal Reserve seeks comments regarding seller financing
Federal Reserve seeks comments regarding proposed rule From THE PAPER SOURCE JOURNAL, July, 2011: The Federal Reserve, which received sweeping new authority under the Obama regulatory reauthorization, wants to effectively eliminate seller-held (a.k.a. purchase money) mortgages. It will do this by enacting a rule for the Dodd-Frank Act prohibiting property sellers from taking back a mortgage unless the buyer essentially can…
Coalition for Sensible Housing Policy Responds to Comments from Rep. Barney Frank (D-MA)
As a member of the Coalition for Sensible Housing Policy, we wanted to pass along a recent Press Release following comments from Rep. Barney Frank (D-MA). (Washington, DC) – The following statement was issued by the Coalition for Sensible Housing Policy in response to remarks made this morning by Rep. Barney Frank (D-MA): Risk retention…
Last Day to Reserve a Room at National REIA’s Day on the Hill
2011 Investor Summit expands focus of past “Days on the Hill” Don’t miss your chance to RESERVE A ROOM at our New and Improved Investor Summit, April 13-14, 2011. RESERVE YOUR ROOM NOW! If you’ve yet to register, DON”T MISS YOUR CHANCE! To view our tentative schedule click HERE.
The Real Estate Lobby Is Ready to Rumble
By Lorraine Woellert, February 3, 2011 Barbara J. Thompson plans to put a human face on the high-stakes debate over whether to preserve cherished U.S. government subsidies for home loans. Hundreds of faces, in fact. Next month, she’ll lead a legion of “everyday people” to Capitol Hill to affirm the virtues of homeownership and urge Congress…
2011 “Investor Summit” expands focus of past “Days on the Hill”
2011 “Investor Summit” expands focus of past “Days on the Hill” Don’t miss our New and Improved Investor Summit, April 13-14, 2011. Agenda and Registration Information coming soon. Our 2010 Day on the Hill was a resounding success, but as we continue to grow as an organization we must continue to innovate an transform ourselves…
Feds Propose Rule on Private Transfer Fees
As part of the Coalition to Stop Wall Street Home Resale Fees, National REIA is happy to pass along press releases and other materials that are provided in support of the coalition’s efforts. Below is a report detailing the Federal Housing Finance Agency’s most recent proposed ruling regarding private transfer fees. By Dennis Norman, on…
National Economic Outlook – January 2011
Economic Commentary By Ingo Winzer - Local Market Monitor January 18, 2011 Although the economy has officially been out of recession for quite some time, those aspects of economic behavior most important to the real estate markets, namely, jobs and borrowing, have remained stuck in the ditch. The latest data suggest, however, that consumers will soon…
Prompt Decision for Qualification of Short Sale Act of 2010
In a continuing effort to keep our membership informed on the latest legislative affairs affecting real estate investors, National REIA wants to call your attention to a piece of legislation recently introduced in Congress which would significantly change, for the better, the way in which lenders and mortgage servicers respond to short sale offers. The…