The Washington Report – March 11, 2013
Check out this week’s legislative and regulatory updates from NAR policy staff in Washington.
NAR Urges Congress to Increase Multifamily Lending
March 8, 2013: As is required by law, the FHA recently alerted Congress that they have utilized 75% of their commitment authority for multifamily insured loans…read more.
Coalition Submits Letter Requesting Sensible QRM Definition
March 8, 2013: On March 4, 2013, NAR, along with 50 other members of the Coalition For Sensible Housing Policy, submitted a letter to federal regulators asking that the standards used in the recently released Qualified Mortgage rule (QM) be used to define the Qualified Residential Mortgage (QRM)…read more.
House Introduces Patent Abuse Legislation
March 8, 2013: On February 27, Reps. Peter A. DeFazio (D-Ore.) and Jason E. Chaffetz (R-Utah) introduced HR 845 Known as the SHEILD Act. This legislation is intended to reduce litigation by “patent trolls” by making them liable for alleged infringers’ court costs and attorneys’ fees if their patents are found invalid or not infringed…read more.
Source: National Association of REALTORS