Volume 6, Issue 7: March 8, 2013
DNREC Stormwater and Sediment Regulations: There will be a public hearing on DNREC's new Stormwater and Sediment Regulations on April 23rd at 6:00pm in the DNREC auditorium at the Richardson and Robbins building (89 King’s Highway), in Dover. The public comment period will be open until May 8th, which is 15 days after the public hearing. You can read the proposed regulations HERE, and you can see DNREC's most recent Stormwater and Sediment Public Hearing Presentation HERE.
DNREC Sea Level Rise Advisory Committee: The last of 3 public engagement sessions on Sea Level Rise was held on February 25th in Dover. With disclosure still an issue, and concerns about rising insurance rates, this is an important issue for REALTORS all over Delaware and not just in the coastal areas (The Wilmington Riverfront, for instance, is in the sea level rise danger zone). You can see the presentation from the public hearings HERE, and you can read the proposed options for dealing with Sea Level Rise in Delaware HERE. Public comments can be submitted to DNREC_DCP_PublicComment@state.de.us until March 14, 2013.
Connect with DAR: Like us on Facebook! Follow us on Twitter! Check out ourwebsite! Download our APP!
Federal News In Case You Missed It:
Will Sequester Affect FHA, RHA Loans? The March 1 date for implementing across the board federal budget cuts arrived with no action to delay or forestall the cuts. Consequently, FHA acknowledged that "furlough days could impact endorsement/claim timeframes" for FHA loans. The underlying insurance funds, funded by premiums, will not be affected by the sequester and "… FHA loans will be supported." Any furloughs at the Department of Agriculture could also slow down final processing of Rural Housing Service loans. Learn more. Read previous sequester coverage from REALTOR® Magazine.
FHA Critical to Recovery, REALTORS® Testify
The housing market, and the broader economy by extension, would have been in much worse shape had FHA not stepped in with affordable mortgage credit when it did, said NAR President Gary Thomas in recent testimony before the Senate Banking Committee. Thomas also made a strong case for careful action by Congress as it decides what, if anything, it should do about recent pressure on FHA’s reserves. Learn more.
Gear Up for Employer Insurance Mandate
Next year is a big year for the health insurance reform law enacted three years ago, but it’s this year that you might want to start thinking about what, if anything, you’ll need to do to get ready. The employer mandate part of the law takes effect in 2014. Learn whether you should start thinking about that now in a six-minute video with NAR Government Affairs.
'Rural' Definition Needs Updating, NAR says
NAR, with other industry groups, sent a letter to the Congressional leaders regarding the definition of "rural" for rural housing. The USDA is required under federal law to revise the list of communities eligible for rural housing loans based on the 2010 census data. The letter urges Congress to update the definition in order to retain vital RHS housing programs in more than 900 rural communities. Learn more.
New Fannie Process Aims to Speed Short Sales
NAR President Gary Thomas met with Fannie Mae last week to talk short sales. After the meeting, Thomas sat down with Fannie Mae executive Jay Ryan to learn about the company’s new platform for speeding short-sale processing and to make it easier for real estate agents to escalate short-sale problems directly to Fannie staff. Access and share a four-minute video on the new short-sale escalation process.