No minimum down payment, as NAR sought The mortgage financing environment for households could improve as a result of a rule federal regulators are releasing starting today. The Federal Deposit Insurance Corporation is the first of six financial regulators to release the final version of the long-awaited qualified residential mortgage (QRM) rule, which stems from the big 2010 banking reform bill...
Daily Real Estate News | Monday, September 08, 2014 The Federal Housing Administration is overhauling a long-held policy of charging extra interest payments on loans it insures to borrowers who have already paid off the principal debts on their mortgages. FHA has permitted its lenders to charge borrowers a full month of interest when they sell or refinance a home, even if...
Supporters of four ballot questions pertaining to oil and gas policy in Colorado have announced that they will be dropping their initiatives. Congressman Jared Polis made the announcement on Monday, making clear that he will be withdrawing financial support for measures #88 and #89 as a part of a deal with Governor John Hickenlooper. The two ballot measures would have...
As a Commercial Real Estate Practitioner you understand how the market can be adversely affected by uncertainty. That is why NAR is asking for your help to extend the Terrorism Risk Insurance Program created following the September 11, 2001 terrorist attacks. When private insurers withdrew from the terrorism insurance market, construction projects ground to a halt and commercial property values...
NAR President Steve Brown was at the White House recently to celebrate the 80th anniversary of the Federal Housing Administration. Just as REALTORS® were key to the creation of FHA in 1934, REALTORS® are key players in keeping the agency strong today. During the visit, REALTORS® celebrated FHA's successes, shared what they see as the greatest challenges and opportunities FHA faces today,...
Congratulations to our Great RPAC Giveaway Winners! $1200 to the Broadmoor for a Spa or Golf Getaway- Deborah Ludvik $150 Visa GiftCard- Janene Johnson $150 Visa GiftCard- Marion Steed $200 Visa GiftCard- Christopher Schack $250 Visa GiftCard- Wynne Palermo $30 Starbucks GiftCard- Hank Poburka $100 Nordstrom GiftCard- Michael Brossmer $100 Nordstrom GiftCard- Christopher Doyle CTME Contracts 1-year Subscription- Joan Cox 2-night Stay at Westin Snowmass- Cindy Blach $100 Shell GiftCard- Marjorie...
NAR Government Affairs has been closely monitoring the implementation of rules by the Consumer Financial Protection Bureau (CFPB). As part of the implementation of the Qualified Mortgage (QM) regulations, CFPB included in the 3% cap on fees and points, amounts paid to affiliate title companies and insurance escrows when there is an affiliate involved in the transaction. Unaffiliated charges...
At the most recent Colorado Real Estate Commission meeting held on June 3, 2014, the Commission adopted Commission Position CP-44 regarding advertising properties as "coming soon" to the market. CP-44 outlines a broker's obligation to exercise reasonable skill and care when advising a seller or landlord of the advantages or disadvantages of different marketing methods. Further, the manner in which the...
This past Friday, CAR presented Commissioner Barbara Kirkmeyer with an RPAC check and our endorsement in the Congressional District 4 Republican Primary. Commissioner Kirkmeyer aligns with REALTORS® on key legislative issues, including safeguarding the Mortgage Interest Deduction, streamlining the short sale process, prudently reforming the secondary mortgage markets, and preserving FHA to help American families obtain affordable mortgage financing. Keeping...
Legislative Webcast Update You can’t afford to miss this update! CAR’s Legislative Team provides a comprehensive review of legislative activity this year. Topics include: Tax credits for natural disasters and wildfire mitigation, mineral estates, foreclosures, home inspector licensing, contractor retainage, affordable housing, construction defects and more! Click here to view this webcast. REALTOR® Party Convention and Trade Expo Thank you so much to those of...