Monday Minute: Week of February 3, 2020

Both the House and Senate are in session this week. What issues should REALTORS® follow? Community Reinvestment Act's Purpose and Intent (NAR to Submit Questions).Hearing Schedule* Thursday, February 6 Protecting Consumers or Allowing Consumer Abuse? A Semi-Annual Review of the Consumer Financial Protection Bureau — House Financial Services Committee * Schedule is subject to change.

By |2020-01-31T20:15:18+00:00January 31st, 2020|Uncategorized|0 Comments

Inventory and Months’ Supply

Every month, NAR puts out the latest Existing-Home Sales numbers. One component of this data that often makes it into the news is inventory levels and months’ supply. These indicators are measures of housing supply. Here is a quick look at both of these terms.Inventory indicates the number of properties marked as active on the market. When a [...]

By |2020-01-31T16:55:20+00:00January 31st, 2020|Uncategorized|0 Comments

NAR Joins QM Compensating Factors Replacement Coalition

NAR signed onto a coalition letter sent to Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger expressing support for an extension of the Qualified Mortgage (QM) patch and NAR's support for an new market-wide QM definition that would utilize compensating factors, the same method used by the Government Sponsored Enterprises (GSEs) for the QM patch [...]

By |2020-01-30T20:47:14+00:00January 30th, 2020|Uncategorized|0 Comments

Land Sales Rose 2% in 2019, With Steady Growth in 2020, According to RLI-NAR Survey

The dollar volume of land sales and land prices per acre rose across all land types during the 12-month period of October 2018–September 2019, according to land estate agents who participated in the 2019 Land Market Survey, a joint survey conducted by the REALTORS® Land Institute and the National Association of REALTORS®. Respondents expect a modest [...]

By |2020-01-30T20:35:57+00:00January 30th, 2020|Uncategorized|0 Comments

CFPB Plans for New Compliance Aids

The Consumer Financial Protection Bureau (CFPB) recently published a policy statement announcing a new category of Bureau guidance, known as “Compliance Aids,” aimed at improving clarity on requirements of existing rules and statutes. As advocated for by NAR, helpful compliance resources like this that can be reasonably relied upon are needed by the industry to [...]

By |2020-01-30T18:59:31+00:00January 30th, 2020|Uncategorized|0 Comments

Window to the Law: Complying with the California Consumer Protection Act

In response to escalating data breaches, and in the interest of protecting consumers’ personal information, governments worldwide are enacting stronger data privacy laws. Most recently, California passed the California Consumer Privacy Act (“CCPA”), which imposes requirements on certain companies, regardless of location, that collect the personal information of California residents. The CCPA takes effect January [...]

By |2020-01-30T16:16:34+00:00January 30th, 2020|Uncategorized|0 Comments

NAR Seeks Entries for 2020 Volunteering Works Mentoring Program

WASHINGTON (January 30, 2020) – For 11 years, the National Association of Realtors® has given Realtors® who have demonstrated a commitment to public service an opportunity to enhance their charitable work through the Volunteering Works Grant and Mentoring Program. The program, which matches mentors with Realtors® who want to expand their community service outreach, is now seeking entries for [...]

By |2020-01-30T15:58:20+00:00January 30th, 2020|Uncategorized|0 Comments

New Guidance on Assistance Animals

On Tuesday, January 28, 2020, HUD released new guidance on "Assessing a Person's Request to Have an Animal as a Reasonable Accommodation Under the Fair Housing Act." This supersedes the previous guidance issued in 2013. The rule outlines what information a housing provider can request and consider when deciding to grant a reasonable accommodation.Assistance animals [...]

By |2020-01-30T15:33:38+00:00January 30th, 2020|Uncategorized|0 Comments

Realtors® to Host Policy Forum Aimed at Tackling Nation’s Housing Affordability Issues

WASHINGTON (January 30, 2020) – As American communities confront low housing inventory and a prevailing lack of affordable housing options, the National Association of Realtors® will host an all-day event evaluating potential solutions to a problem plaguing markets across the country. NAR’s second annual Policy Forum will bring together hundreds of industry stakeholders, policymakers and [...]

By |2020-01-30T15:05:18+00:00January 30th, 2020|Uncategorized|0 Comments