Sunset: In public policy, a sunset
provision or clause is a measure within a statute, regulation or other
law that provides that the law shall cease to have effect after a
specific date, unless further legislative action is taken to extend the law.
The NFIP will "sunset" September 30, 2017 unless legislative action is taken.
NAR Hosts Webinar on
Flood Insurance for FPCs and GADs
On June 29, 2017, the NAR Government Affairs team hosted a
webinar for all FPCs and Government Affairs Directors on the recent state of
play for flood insurance and NAR’s position on the legislation being proposed.
As noted by our experts Ken Wingert and Austin Perez, the September 30th deadline to reauthorize
the National Flood Insurance Program (NFIP) is fast approaching and we must be
prepared. As you visit with your legislators over the Fourth of July
recess, it is important to bring this issue to their attention and convey our
position and activity on the matter. For further background and
information, please check out NAR’s
latest update on the NFIP state of play and the most
up to date talking points.
If you have any questions, please reach out to your NAR Lobbyist or
Political Representative. You can also reach out to Victoria Givens at firstname.lastname@example.org or 202-383-1021.
Don't Forget to File Your Field Report
Your 2nd Quarter FPC field reports are due TODAY.
File Your Filed Report Here
When filing your field reports, please make sure to press the "confirm" button on your profile when you information populates. This way your field report is counted in the query at the end of the month. If you do not follow these instructions and instead put in another email address, your report will be filed as "other," and it is much more difficult to count. If you have questions about how to file your field report, please reach out to Victoria Givens at email@example.com or 202-383-1021
NAR Joins Coalition
on Net Neutrality
NAR has joined a coalition of businesses and public interest
groups working to preserve Open Internet rules—also known as network
neutrality. NAR together with tech companies like Facebook, Microsoft and
Amazon and main street companies like Walmart have joined together to advocate
for preserving net neutrality. The coalition will work at the Federal
Communications Commission (FCC), in the courts and on Capitol Hill to ensure
that internet remains an open and level playing field, an issue critical to our
business success. Click
here for more information.
Net Neutrality Resources
VIDEO: June Housing Minute
Once a month, on the last business day of the month, NAR will now be releasing a monthly "Housing Minute Video," with important market statistics and numbers. Take a look!
NAR Submits Statement
on Housing Finance Reform
On June 29, 2017, the U.S. Senate
Committee on Banking, Housing & Urban Affairs held its first or several
hearings of the year on housing finance reform. The hearing, entitled
“Principles of Housing Finance Reform” consisted of three witness
panelists from the Mortgage Bankers Association, Housing Policy Counsel of the
Financial Services Roundtable, and Center for Responsible Lending. NAR
submitted a statement highlighting that any new housing finance system must
ensure that in all markets mortgage capital will always remain available
for creditworthy Americans. Second, NAR stated that taxpayer dollars
should be protected.
NAR Comments on GSE
On June 27, 2017, NAR submitted
letters to the U.S. Federal Housing Finance Agency (FHFA) Director, U.S.
Treasury Secretary, members of the U.S. Senate Committee on Banking, Housing
& Urban Affairs and U.S. House Committee on Financial Services, expressing
concern related to the scheduled elimination of capital reserves held by Fannie
Mae and Freddie Mac (Enterprises). Specifically, NAR letters state to Congress
and the banking agencies that in the absence of comprehensive housing finance
reform, policymakers need to address the declining capital reserves at the
Enterprises. One way to address this issue would be to create a Mortgage Market
Liquidity Fund (MMLF) through legislation or under existing regulatory
more information and to see the NAR letters here.
NAR Releases Q2 Homeownership Opportunities and Market Experience (HOME) Survey
The HOME report was created to monitor consumer
sentiment about the housing market. This new report covers core topics that
will be tracked on a monthly basis such as views on if now is a good time to
buy or sell a home, the perception of home price changes, perceived ability to
qualify for a mortgage, an the outlook on the U.S. economy.
FPC Spotlight: Big applause for FPC Anne Rubin, for being sworn in as the
newest Governor appointee to the PA State Real Estate Commission. Anne is a stellar FPC for Rep. Brendan Boyle. Congrats Anne!
Note: The next FPC Newsletter
will come out on July 14th.
**FPC Weekly Newsletters are now online!