The Washington Report

Government funding is set to expire on September 30th, and Congress has yet to agree on any funding measures to keep the government open. If a CR (Continuing Resolution) or another funding bill is not passed by midnight on the 30th, it will result in a government shutdown. In that case, all non-essential operations will be paused until a funding measure is passed. Essential services such as the post office will remain open. NAR continues to urge Congress to pass a long-term funding measure to keep the government open and avoid disruptions to federal programs such as NFIP and FHA loans. For more information, see NAR’s resource on what a government shutdown means for REALTORS®.

NAR submitted comments to the Federal Housing Finance Agency (FHFA) in response to its request for input on Proposed Collection; Comment Request: 'Minimum Requirements for Appraisal Management Companies.

In the letter, NAR stated that weak oversight and enforcement of AMCs’ requirement to provide rationale for an appraiser’s removal or reduced usage on a panel result in violations of appraisal independence and that appraisers should have a viable vehicle to lodge complaints with adequate whistle blower protections. Weak oversight and enforcement by Fannie Mae and Freddie Mac (the GSEs) and the Federal Housing Finance Agency (the FHFA) can impact the quality of service provided to the consumer and undermine the safety and soundness of the GSEs and the housing finance system.

Read the letter