2015 FPC News

CFPB: Consumer Financial Protection Bureau, the independent regulatory agency created under Dodd Frank, responsible for consumer protection in the financial sector. CFPB jurisdiction includes banks, credit unions, securities firms, payday lenders, mortgage-servicing operations, foreclosure relief services, debt collectors and other financial companies operating in the U.S.

Dear ,

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif  In Case You Missed It! Summary on NAR Tax Reform Study

NAR has finalized a summary of the "Impact of Tax Reform Options on Owner-Occupied Housing" report prepared for NAR by PwC. All Members of Congress should have received these documents by now as a follow up to the Hill Visits held during the 2017 REALTORS® Legislative Meetings & Trade Expo.

If you have any questions please direct them to Victoria Givens at vgivens@realtors.org or 202-383-1021.

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif  NAR Sends Letter on House Flood Insurance Proposal

This week, NAR sent a letter to the House Financial Services Committee commenting on draft legislation to reauthorize and reform the National Flood Insurance Program (NFIP). The program is up for reauthorization on September 30 and the letter urges Congress to act quickly to avoid any laps in program authority while working toward a long term reauthorization solution.

The committee has released six sections addressing NFIP affordability, flood mapping, private flood insurance and more. The discussion drafts were the subject of a hearing this week and legislation will be marked up next Wednesday.

NAR has reviewed these drafts and our section-by-section and analysis can be found attached to the letter. Overall, the bill reflects many NAR member priorities including:

    • 5 year reauthorization;
    • $1 billion investment in pre-flood mitigation;
    • Streamlining the processes for community flood map appeals and claim determinations;
    • A more robust private flood insurance market.

Specifically, the bill includes a number of provisions requested by NAR including:

    • Providing increased cost of compliance grants for pre-flood mitigation;
    • Requiring FHA to consider private flood insurance
    • Requiring that NFIP account for coastal and inland locations when developing NFIP rates.

At the same time, as our analysis outlines, NAR believes there are several areas where the drafts can be strengthened and clarified.

For a summary of each section, please click on these links:

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif  New Tools to Stay Connected with Congress on Facebook

Facebook recently launched three new tools that connect elected officials with their constituents: Constituent Badges, Constituent Insights, and District Targeting.

Here are 3 ways you can use Facebook’s new tools to stay connected with Congress:

    1. Enable your constituent badge by going to Facebook’s Town Hall page at Facebook.com/TownHall. By getting the “badge”, your legislators will know you live in their district when you post to their page on important real estate issues.
    2. Follow your legislators and stay informed with what is happening in your district.  If you click on the Community tab of an elected official's page, you can see the popular news in that district. This feature is not available on all elected official pages.
    3. Share posts about NAR policy priorities.  This week, NAR sent a letter to the House Financial Services Committee commenting on draft legislation to reauthorize and reform the National Flood Insurance Program (NFIP). As you know, the program is up for reauthorization on September 30 and this letter urges Congress to act quickly to avoid any laps in program authority while working toward a long-term reauthorization solution. A link to the letter can be found below, which you can share with your member of Congress to remind them about the upcoming NFIP reauthorization deadline.

Flood Insurance Letter: http://narfocus.com/billdatabase/clientfiles/172/2/2908.pdf

For more information on Facebook's Town Hall tools, visit these Help Center articles:

- What is a Constituent Badge?
- What is Town Hall?
- Why does Facebook show what's popular in a district?

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif  Potential Changes to Dodd-Frank Regs Outlined in Recent NAR Lender Survey

This quarter marks the 14th Survey of Mortgage Originators and the first full quarter under the new administration. This survey covers lenders’ experiences in the 1st quarter of 2017 and questions on potential changes to the CFPB, the Qualified Mortgage rule, and the Small Creditor Portfolio Rule.

Survey of Mortgage Originators, First Quarter 2017

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif  Important 2017 President’s Circle Reminder

Did you know 175 FPCs are 2017 President’s Circle members? That’s 33% of you who are taking advantage of this unique opportunity! You further strengthen the REALTOR® Party beyond what we can do with RPAC dollars alone by investing $500 directly in the Member of Congress you serve. An FPC must choose either a $500 contribution to their Member of Congress OR a National Party Committee – you cannot do both in Round 1. All $2,000 in President’s Circle funds are due by Sept. 30th.

“As an FPC, I truly believe that all REALTORS® should Vote, Act & Invest. Our elected officials know when we Vote & Act, but they really pay attention to those of us who Invest. I know that a large part of my credibility with my Member of Congress is due to my investment in RPAC and especially in the President’s Circle program. Financial investment in RPAC & the President’s Circle speaks volumes about our commitment to our Industry and Association.”   – Hagan Stone, 2017 NAR RPAC Trustees Fundraising Committee Chair and FPC for Marsha Blackburn (TN)

Current PC Roster

Contact Kanoa Naehu at knaehu@realtors.org/ 202-383-1268 or Kelly O’Donnell at ko’donnell@realtors.org/ 202-383-7510

SPECIAL NOTE: FPC names will now be featured on the VoteSane portal when President’s Circle targets are identified.

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif  Hearing Held on PHH v. CFPB

On May 24, 2017, the U.S. Court of Appeals for the D.C. Circuit heard oral arguments in the case of PHH Corp. v. CFPB. The court examined whether the Consumer Financial Protection Bureau’s (CFPB) single director structure is unconstitutional and whether the CFPB exceeded their authority when interpreting the Real Estate Settlement Procedures Act (RESPA). The bulk of the oral arguments focused on the constitutionality argument, rather than the RESPA concerns.

Initial reports indicate the court is unlikely to rule the CFPB is unconstitutionally structured ... Read More

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif FPC Field Reports Now Password Protected

Thank you for all of your great work last week. As many of you have already experienced, your field reports are now password protected. Due to this new level of security for your privacy, you will now be required to login with your NAR.Realtor username and password before filing your field report. If you do not know your username and password, you can obtain it by contacting NAR’s Information Services at 800-874-6500 or emailing them through this web form. Once logged in, you will need to navigate back to the field report page on the REALTOR Action Center and then proceed as usual. This added security measure will ensure that all field reports remain confidential between the FPC and NAR staff.If you have any questions or trouble logging in, you can reach out to Victoria Givens at vgivens@realtors.org or 202-383-1021.

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif FPC $1000 Stipend Details

FPCs will once again be afforded a stipend of up to $1,000 per FPC. The reimbursement process will be the same as in previous years: FPCs, following state reimbursement rules, should file their expense report with your state immediately after your trip. States then should submit one invoice to NAR for the entire state FPC delegation that attended the meetings and are requesting the stipend. The invoice should list the name of each FPC requesting assistance, and the amount (they may vary) being requested for each FPC. Invoices should be submitted to NAR by July 3, 2017. Please email your invoice to govcpapay@realtors.org.

http://www2.realtoractioncenter.com/images/content/pagebuilder/28022.gif  FPC Spotlight

Recenlty, Mr. Matt Ritchie, FPC for Louisiana Sen. John Kennedy, received the Louisiana Realtor of the year aware. Please give a big congratulations to Matt!


Tips of the Trade


This Week:  Topic Pages on NAR.realtor

Are you familiar with the "Topic Pages" on nar.reator? This resource provides background and news updates to keep you informed on over 100 issues related to our industry. A handful of timely topics accessible include:


Flood Insurance

Tax Reform

Net Neutrality

Clean Water Act

The direct link to these topic pages can be found here: https://www.nar.realtor/topics

**FPC Weekly Newsletters are now online!

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