PPAR Mission Statement:
“The Pikes Peak Association of REALTORS® helps its members to be ethical, professional and successful by providing quality services and protecting the free enterprise system and real property rights.”
PPAR Day at the Capitol – February 29, 2016
FHA Fund Reaches 2%
On Monday, November 16, 2015, FHA released its Annual Report to Congress and the FY 2015 Independent Actuarial Assessment of the FHA Mutual Mortgage Insurance Fund. The review shows that the capital reserve ratio has reached 2.07 percent and has improved by more than $40 billion since FY 2012. The 50 basis points mortgage insurance premium reduction in January 2015 added to the solvency of the fund and added 75,000 borrowers with credit scores below 680. Improvements can also be attributed to improved risk management and loss mitigation efforts. Serious delinquency rates for the active portfolio are at a seven-year low and recoveries on dispositions have improved by 43 percent since 2011.
House & Senate Begin Transportation Negotiations
The House and Senate have approved two six year bills and the differences are currently being ironed out in Conference. Therefore, Congress will most likely approve a short-term extension of transportation until early December 2015 (transportation policy expires Nov. 20, 2015). The extension into December will allow more time for the Conference Committee to negotiate a five to six year transportation package. Of the House members included in the Conference talks are Representatives Jeb Hensarling (R-TX) and Randy Neugebauer (R-TX), who successfully offered an amendment to remove the use of Fannie Mae and Freddie Mac guarantee fees (g-fees) from the House’s transportation package. Ideally their expertise and leadership will carry forward during the negotiations with the Senate to remove g-fees as a funding stream for transportation.
NAR’s Call to Action on this issue helped to remove the g-fees from the House bill. Read more
NAR Call to Action! Stop the Housing Tax for Transportation
Congress is considering a proposal that would create a tax on all potential homeowners and consumers looking to purchase or refinance a mortgage.
By increasing Fannie Mae and Freddie Mac’s credit risk guarantee fees (g-fees) to fund transportation programs, Congress would disturb the housing recovery. Now is not the time to raise the cost to purchase or refinance a home.
NAR strongly believes that taxing homeowners to pay for transportation programs places an unnecessary long-term burden on consumers and this action will disproportionately impact low and moderate income borrowers, as well as first-time homebuyers.
2014 NAR Legislative Year Review
Located just one block from the U.S. Capitol, the headquarters of the National Association of REALTORS® is perfectly positioned to make REALTORS®’ voices heard in Washington, D.C. NAR’s staff uses this physical proximity and its long-standing relationships with legislators to work closely with Congress and regulatory agencies to push forward issues that benefit REALTORS®, the real estate industry and consumers.