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...
We are pleased to announce that Alan Lovitt has been elected as the 2015 Chairman-Elect. Congratulations Alan! ELECTION RESULTS: Chairman of the Board: David Barber. Chairman-Elect: Alan Lovitt. Treasurer: Barbara Asbury. DISTRICTS: Metro District Chair: Deborah Conner. Metro District Chair-Elect: Nancy Griffin. Mountain District Chair: Jill Masters. Mountain District Chair-Elect: Molly Eldridge. Northwest District Chair: Michelle Martinez. Northwest District Chair-Elect: Debbie Laity. Northeast District Chair: Terry Lee. Northeast District Chair-Elect: Francie Martinez. Southwest District Chair:...
The National Association of REALTORS® just released the Home Buyers & Sellers Generational Trends report. Read the highlights and see the report below. Highlights Gen Y comprises the largest share of home buyers at 31 percent, followed by Gen X at 30 percent, and both Younger (16 percent) and Older Boomers (14 percent) at 30 percent. The Silent Generation has the smallest share of...
As of May 1, 2014, all buyers of older properties (“pre-FIRM”) will see a premium rate reduction under the Homeowner Flood Insurance Affordability Act of 2014. Instead of jumping to “full cost” for flood insurance, buyers will assume the seller’s Oct-2013 rate for a pre-FIRM property. NAR prevailed upon FEMA to implement this provision seven months early. FEMA also extended the rate relief...
Five Colorado REALTORS® will be inducted into the NAR RPAC Hall of Fame in May during the 2014 REALTOR® Party Convention and Trade Expo. They will be honored for their commitment to RPAC and their investment of over $25,000 during their career as REALTORS®. Kit Cowperthwaite A former lawyer, Kit left a long-time practice in 1993 to begin a full-time career as a REALTOR®. He quickly became involved, serving...
NAR is joining a lawsuit filed by MOVE, Inc. against Zillow and new Zillow Chief Industry Development Officer Errol Samuelson. In addition to NAR and MOVE, the plaintiffs include RealSelect, Inc., Top Producer Systems Company, and Realtors® Information Network, Inc. NAR’s relationship with MOVE and realtor.com® is based on a mutual respect for REALTORS® and their efforts to bring online home...
Are you or someone you know doing great work serving the community? We want to hear about it! At REALTOR® Magazine, we have two programs that work to recognize and nurture REALTORS® who are working to better the world around them. The Good Neighbor Awards recognize REALTORS® for extraordinary accomplishments in community service. Volunteering Works is designed to help new and...
January 08, 2014 Business News (PRLEAP.COM) Association of Realtors® Good Neighbor Society Volunteering Works Award at the National Association of Realtors® convention in San Francisco. The Volunteering Works recipients were selected based on their dedication to the community through volunteer work and the potential for their charitable work to be expanded or improved with the help of an expert mentor. Joan Rogliano...
The Mortgage Cancellation Tax Relief expired December 31, 2013. Without an extension from Congress, homeowners who have had any amount of mortgage forgiven by a lender through either a foreclosure or short sale will be forced to pay a "phantom income tax" on any amount that was forgiven. It is CAR and NAR's position that homeowners should not be subject to...
The National Association of REALTORS Board of Directors meeting in San Francisco weighed in on redevelopment, use of eminent domain in mortgage takings, discrimination and disparate impact, membership issues, professional standards and legal issues and more...