Author: www.nar.realtor - Washington Report

The Small Business Administration (SBA) released updated guidance for the Paycheck Protection Program (PPP), reflecting changes and updates made by the December 2020 COVID-19 relief bill.

These updated rules expand the legal operational capabilities of commercial UAS and provide flexibility for operators who use them in their businesses, including real estate professionals.

The National Defense Authorization Act (NDAA), passed by Congress, included major Bank Secrecy Act (BSA) and other key anti-money laundering reforms.

The Bureau has announced that it plans to “deliver a complete and accurate state population count in early 2021.

For real estate professionals, the rule does not change their classification as independent contractors under the Internal Revenue Code.

Senators Rounds and Warner submitted an amendment to the CAREs2.0 stimulus legislation that would have required a GAO review of the FHFA’s capital rule and its impact on interested parties.

Congress has passed legislation that will provide relief for veterans who have experienced a natural disaster.

NAR, along with coation partners, sent a letter to the Treasury and Federal Housing Finance Agency asking them to refrain from any rushed actions to end the conservatorship of Fannie Mae and Freddie Mac.

NAR’s President Charles Oppler thanked Kathy Kraninger, Director of the of the Consumer Financial Protection Bureau, for her efforts to work with NAR on housing issues during the pandemic, and requested further changes to the qualified mortgage rule.

The rule issued by the Consumer Financial Protection Bureau (CFPB) will be implemented 60 days from today and the phase-in period ends on July 1st.