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NAR Comments on GSE Appraisal Waivers

Published Saturday, September 16, 2017
On September 12, 2017, NAR sent a letter to the Federal Housing Finance Agency (FHFA), as well as to Fannie Mae and Freddie Mac (collectively the GSEs), commenting on the recent decision by Fannie Mae and Freddie Mac to allow for data-based valuations rather than traditional in-person appraisals in certain purchase transactions. Given recent complaints of more»

HUD Nominee Approved

Published Saturday, September 16, 2017
The Senate confirmed Pam Patenaude as Deputy Secretary for the Department of Housing and Urban Development (HUD) by a vote of 80-17. NAR is a strong supporter of Ms. Patenaude, and just last week coordinated a letter of more than 60 groups urging her vote. Ms. Patenaude had vast expience in the housing industry, having worked at HUD, the New Hampshire more»

Advocates Urge Vote on HUD Nominee

Published Saturday, September 9, 2017
NAR and a coalition of 60 groups sent a letter to the Senate leadership this week, urging a vote on Pam Patenaude to be Deputy Secretary for the Department of Housing and Urban Development (HUD). Ms. Patenaude was reported favorably by the Senate Banking Committee back in June, but her vote has not come to the Senate Floor. Ms. Patenaude previously worked more»

FHA Extends Temporary Condominium Guidance

Published Saturday, September 9, 2017
On Aug. 30, 2017, the Department of Housing and Urban Development (HUD) released Mortgagee Letter 2017-13, Extension of Temporary Approval Provisions for the Federal Housing Administration (FHA) Condominium Project Approval Process, which extends the current temporary guidelines on condominium projects until HUD publishes and implements the Final Rule of more»

Committee Approves ADA Reform Bill

Published Saturday, September 9, 2017
On Thursday, Sept. 7, the House Judiciary Committee held a markup of H.R. 620, the ADA Education and Reform Act of 2017, sponsored by Rep. Ted Poe (R-TX). The Judiciary Committee, led by Chairman Bob Goodlatte (R-VA) and Ranking Member John Conyers (D-MI) considered the legislation, which adds a "notice-and-cure" provision to the Americans with more»

GSEs Appraisal-Free Purchase Mortgages

Published Friday, September 1, 2017
On August 18, 2017, both Freddie Mac and Fannie Mae, collectively the Government Sponsored Entities (GSEs), announced they would allow for the use of their proprietary automated valuation tools in lieu of traditional appraisals for some purchase loan transactions. Freddie Mac will utilize their automated collateral evaluation (ACE) to determine home value more»

CFPB Final Rule on CD Sharing Effective Date

Published Saturday, August 26, 2017
On July 7, 2017, the Consumer Financial Protection Bureau (CFPB) released the final rule amending the “Know Before You Owe” (KBYO or TRID) mortgage disclosure rule. As advocated for by NAR, the final rule clarifies the ability to share the Closing Disclosure (CD) with third parties - a victory for real estate professionals nationwide. As more»

FinCEN Issues Money Laundering Real Estate Advisory and Renews GTOs

Published Wednesday, August 23, 2017
The U.S. Department of Treasury’s lead agency in the fight against money laundering, the Financial Crimes Enforcement Network (FinCEN), has released two notices related to money laundering risks associated with real estate transactions. The first is an Advisory to Financial Institutions and Real Estate Firms and Professionals (FIN-2017-A003) to more»

Community News

NAR Comments on GSE Appraisal Waivers
Saturday, September 16, 2017
HUD Nominee Approved
Saturday, September 16, 2017
Advocates Urge Vote on HUD Nominee
Saturday, September 9, 2017

All News

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Sterling Bank & Trust
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