Today we are briefly touching on a few of the legislative priorities NAR and DCAR are handling for 2016.
House Passes Transportation Bill Without G-fees
On November 5, 2015, the U.S. House of Representatives voted in favor of a landmark highway and transit bill. The 6-year, approximate $340 billion highway and transportation legislation includes an NAR supported amendment.
The amendment removes an extension of higher Fannie Mae and Freddie Mac Guarantee Fees. The removal is due in part to NAR’s recent Call for Action.
HUD Announces Change to FHA Condo Policies
New changes to FHA condominium policies are on the horizon. The announcement came from HUD representatives and NAR President Chris Polychron. Changes NAR is advocating include,
- adjusting the lengthy and complex recertification process in place today,
- burdensome owner-occupancy requirements, and;
- limits on the types of property insurance that are considered acceptable coverage under FHA’s rules.
NAR 2015 President Chris Polychron testified before the Housing and Insurance Subcommittee of the House Financial Services Committee advocating to make the process of purchasing condominiums an easier process for first-time homebuyers.
Public Policy Recap – Looking At DCAR’s Advocacy
The year will soon come to a close, which means it would be a good idea to look at what we did for you so far. DCAR remained vigilant, advocating for the interests of DC’s real estate community. The sweltering DC heat was nothing to us as we remained fired up to advocate for you. That dedication showed when we recently held our Advocacy Day with the DC Council and staff.