Featured Listings

Real Estate News Feed

  • USDA Guaranteed Loan Fee Change

    As of October 1, 2016, the upfront guarantee fee for USDA Guaranteed Loans is now 1.0% of the loan amount, a reduction of 1.75% from FY 2016.  The annual fee is now 0.35% of the average scheduled unpaid principal balance for the life of the loan, a reduction of 0.15% from FY 2016. 

    USDA Announcement on Fees

  • VA Specially Adapted Housing Grant Changes

    As of October 1, 2016, the U.S. Department of Veterans Affairs (VA) has increased the aggregate amounts of assistance available under the Specially Adapted Housing (SAH) grant program by 4.797 percent from FY 2016 levels, in alignment with an increase in the cost of building.

    On October 18, 2016, the VA proposed changes to the Veteran's Mortgage Life Insurance (VMLI) which provides mortgage protection insurance to SAH grant recipients. The VA is proposing to allow SAH grantees to take out VMLI in amounts less than both the statutory maximum of $200,000 and the amount... Read More

  • NAR Comments on Know Before You Owe Rulemaking

    On October 18, 2016, NAR sent a letter to the Consumer Financial Protection Bureau (CFPB) commenting on its recent proposed rule amending the Know Before You Owe (KBYO) regulation, or “TRID.” 

    While KBYO has resulted in more transparency for consumers and better accountability of financial institutions, ongoing compliance issues remain, costing time and money for consumers and the industry. As a result of these concerns, NAR urged the CFPB to:

    1. emphasize that lenders and title agents should share the CD with real estate agents, in accordance with... Read More
  • NAR Comments On GSE Reform Efforts

    On October 12, 2016, NAR submitted comments to the Federal Housing Finance Agency (FHFA) on its request for input on credit risk transfer policy issues. In an effort to engage more private capital in the secondary mortgage market, Fannie Mae and Freddie Mac have been experimenting selling off portions of credit risk the entities normally retain and collect fees on.

    In the letter to FHFA Director Mel Watt, NAR President Tom Salomone outlined principals for both housing finance reform and credit risk transfer transactions, which have been part of nearly all major... Read More

  • Court Sides with PHH Upholding RESPA Section 8

    On October, 11, 2016, the U.S. Court of Appeals for the D.C. Circuit issued an opinion in the case of PHH v. CFPB. In this case, the court vacated a $109 million penalty imposed by the Consumer Financial Protection Bureau (CFPB) against PHH Corporation for allegedly violating the Real Estate Settlement Procedures Act (RESPA) by paying for referrals where there is federally related mortgage.

    The court held in favor of PHH, stating that payments for bona fide services provided and made at fair market value do not violate RESPA, reinforcing NAR’s... Read More

Mortgage Tools & Widgets

Request An Appointment

*indicates required
First Name*
Last Name
Phone Number*

Your privacy is important to me. I will never sell or distribute your personal information.