Governmental Affairs Issues

Call for Action! Flood Insurance Issues Could Sink Your Sales

The Problem: Congress provided a 5-year reauthorization of the National Flood Insurance Program (NFIP), but severe implementation problems threaten to undermine real estate transactions where flood insurance is required to obtain a mortgage. New NFIP rate structures have caused serious confusion and hardship for property owners. The Federal Emergency Management Agency (FEMA) continues to delay and miss deadlines. The legally required transition to true risk rates has plagued consumers with increases
Governmental Affairs Issues

Changes Coming to the National Flood Insurance Program

Changes are coming to the critically important National Flood Insurance Program (NFIP) that could impact real estate transactions and property owners across the country. That’s according to experts from the Federal Emergency Management Agency, which manages the government’s flood insurance program, who spoke to REALTORS® at a Flood Insurance 101 session during the Realtors® Midyear Legislative Meetings & Trade Expo. The National Association of REALTORS® strongly supported the legislation and believes the government’s insurance program saves
Governmental Affairs

Houston Fly-In With Key Washington Staffer

Each spring, REALTORS® and association staff across the nation prepare for our annual congressional visits in Washington, D. C. These visits, held during the National Association of REALTORS® (NAR) Mid-Year Meeting, give us an opportunity to have face-to-face time with our U. S. Representatives and Senators and communicate with our federal lawmakers about how certain issues affect consumers back home in their legislative districts and advocate on their behalf. In
Governmental Affairs Issues

The Budget “Sequester” – What is it and what is the impact on FHA?

What is "the sequester"? The sequester is a group of cuts to federal spending that took effect on March 1, 2013. The sequester was originally passed as part of the Budget Control Act of 2011, better known as the debt ceiling compromise. It was intended to serve as incentive for the Joint Select Committee on Deficit Reduction (aka the “Supercommittee”) to come to a deal to cut $1.5 trillion over
Governmental Affairs Issues

REALTOR® Call for Action: Do No Harm to Housing

The REALTOR® Party needs your urgent help to protect the stability of the American housing market and the general economy. By now you have seen countless news reports concerning the “fiscal cliff.” Many of these reports speculate that a change to the long-standing policy that allows homeowners to deduct mortgage interest payments from their income taxes could be part of a “fiscal cliff” deal. REALTORS® need to “remind” Congress about