Legal do-not-call maneuver targets real estate brokers
Federal regulations require businesses to create an internal do-not-call policy and send a copy of it to anyone upon request. A private citizen, capitalizing on this rule, has targeted a number of brokers, including some in Florida, by making this legal request. When the brokers didn’t comply quickly, the caller threatened a lawsuit but simultaneously offered to settle for $4,500.
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Do-not-call fees increase
Effective Sept. 1, 2006, the Federal Trade Commission (FTC) will increase fees for access to the federal Do-Not-Call Registry.
For individual area codes in excess of the five free codes, the fee will jump from $56 to $62.
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HUD: $2.4 billion available through 38 grant programs
WASHINGTON – March 14, 2007 – The U.S. Department of Housing and Urban Development (HUD) published HUD’s Fiscal Year 2007 “SuperNOFA,” a notice that makes available approximately $2.4 billion in funding through 38 individual grant programs.
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Insurance companies exempt from U.S. antitrust regulations
WASHINGTON – Feb. 16, 2007 – True or false: U.S. antitrust laws apply to Realtors but not the insurance industry. Answer: True. Federal oversight does not apply to insurers’ anti-competitive conduct, such as price-fixing, agreements not to pay and market allocations.
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NAR urges Congress to coordinate natural disaster preparedness plan
WASHINGTON – Feb. 7, 2007 – The National Association of Realtors® (NAR), in a recent statement submitted to the House Financial Services Committee, commended the committee for focusing on federal response to Hurricanes Katrina and Rita and for renewing an important discussion on national natural disaster preparedness.
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Mortgage insurance deductible but only for a few
WASHINGTON – Jan. 12, 2007 – Mortgage insurance is now deductible on federal income taxes but accompanied by so many restrictions that only a handful of Americans benefit.
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NAR’s president speaks to congressional panel about health insurance
WASHINGTON – Jan. 11, 2007 – Small business employers and the self-employed – including real estate firms and agents – are facing a growing challenge in accessing and providing affordable health insurance, Pat Vredevoogd Combs, president of the National Association of Realtors® (NAR), told a congressional panel yesterday.
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As seen on TV
Freddie Mac teamed up with the Community Reinvestment Association of North Carolina on a 13-episode “edutainment” television program geared toward Spanish-speaking home buyers.
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Infrastructure funding crisis affects housing
Reduced federal funding has left states and cities scrambling for ways to fund infrastructure improvements -- from deteriorating bridges and highways to the growing demand for mass transit -- necessary to handle population growth.
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2006 Top 10 Stories
With 2007 around the corner, it's time to reflect on the major real estate events shaping the industry in Florida this year. Here are FAR's picks for the Top 10 Real Estate News Stories of 2006.
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Landlords often misunderstand fair credit law
Many property managers don’t fully understand the Fair Credit Reporting Act, thinking the law applies only if someone has bad credit. But a denial based on any information found within a credit report, such as a yearly salary, mandates that the prospective tenant be given the reason through a notice of adverse action.
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NAR worried about new rules for commercial lending
NAR says that the new rules issued last week concerning bank lending for commercial real estate projects, designed to help prevent imprudent commercial real estate lending, could force banks – particularly smaller, regional banks, including some in Florida – to stop funding some commercial loans even if they make financial sense.
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Court issues opinion on DOJ lawsuit against NAR
A judge rejected an NAR motion to dismiss a Department of Justice lawsuit against its Internet use policy, and on Monday issued a 29-page report explaining why he ruled that the case should continue.
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Bush administration announces $39.1M in housing counseling grants
HUD will spend $39.1 million in homeownership counseling, awarding grants to17 national organizations and more than 400 state and local agencies, including 21 in Florida.
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NAR: Don't allow banks to engage in commercial activities
NAR expressed growing concern to a House panel yesterday about the inappropriate expansion of banking powers being permitted by the Office of the Comptroller of the Currency (OCC)
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IRS makes it easier to catch lies of borrowers
The Internal Revenue Service plans to return transcripts summarizing mortgage applicants' income and tax data to lenders in an electronic format within two business days, starting on Oct. 2.
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Politicians change but NAR issues remain active
Some NAR supporters in the U.S. House and Senate lost their re-election bids Tuesday, but Realtors are optimistic about making progress on many of their top national legislative issues in the new Washington political environment
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HUD gives Florida $1M to fight housing discrimination
HUD awarded $1,024,972 to Florida groups that promote fair housing and fight discrimination. Nationwide, HUD will release $18.1 million.
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NAR supports mortgage education
NAR is very concerned that some borrowers are using nontraditional mortgages without fully understanding the risks involved, and supports the federal banking agencies’ new guidance
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HUD: $633M for disabled and older-adult housing
HUD announced that it would fund two of its housing programs with $633 million. One program helps the disabled find housing and the other benefits older adults.
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U.S. security measures deter foreign buyers
Florida licensees say that some longtime foreign property owners have found it difficult to renew their visas in recent years and that some foreigners and/or their relatives have not been allowed to return to the States after leaving to visit their home countries.
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FTC may work with NAR on MLS issues
NAR continues to reach out to the Federal Trade Commission in an attempt to address FTC concerns regarding the treatment of exclusive agency listings, and the FTC may take NAR up on the offer.
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Bankruptcies likely to spike, experts warn
While a new federal law cracking down on personal bankruptcies has tempered activity in this area over the year that it has been in effect, experts warn that the volume could crank up again as more and more Americans seek Chapter 13 protection as a way to hang on to their homes.
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Lenders respond to FHA moves, ARM jitters
HUD's reforms to the FHA loan program to streamline appraisals and enable lenders to charge conventional closing costs have prompted a number of lenders to aggressively market these mortgages to homeowners looking to refinance out of adjustable-rate products.
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HUD fiscal year 2007
HUD has published its Early Registration Notice for applicants to apply for funding under HUD's competitive grant programs. Applications are available at Grants.gov |
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