Author: www.nar.realtor - Washington Report

NAR received a letter from the FHFA in response to NAR’s letter send to the Treasury, Federal Reserve Board, and FHFA on March 27th requesting their support to improve liquidity in the mortgage market.

The 45-day and the 180-day deadlines under Section 1031, which fall between April 1 and July 14, 2020, are automatically delayed until July 15, 2020.

NAR submitted a comment in response to the Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation’s notice of proposed rule making (NPRM) on modernization of the community reinvestment act (CRA).

The CARES Act created a new SBA loan program to help businesses struggling to pay their employees and meet their debt obligations due to COVID-19.

NAR is asking the Federal Reserve Board and Federal Housing Finance Agency to use their direct funding from the Treasury to support mortgage servicers and to clear the log jam in the mortgage funding process that has arisen due to potential widespread forbearance.

NAR joined forces with other real estate industry groups to seek relief for multifamily properties.

As the federal and state governments address the COVID-19 (coronavirus) crisis, NAR is advocating for the interests of commercial real estate in relief packages and stimulus plans.

The legislation expands Federal Communications Commission (FCC) enforcement authority against robocall offenses with a longer statute of limitations and increased civil penalties.

The Consumer Financial Protection Bureau (CFPB) has taken steps to protect consumers and improve industry compliance through several new proposed program changes.

The Treasury Department recently released the “2020 National Strategy for Combating Terrorist and Other Illicit Financing,” which looks strategically at how the U.S. can effectively work to combat money laundering and terrorist financing.