Internal News Service Weekly Report for AEs

Realtor ® The Weekly Report for Association Executives Internal News Service From the National Association of<br />
                                    Realtors ®
June 29, 2016   
In This Issue
    • Pending Home Sales Fall in May
    • Existing-Home Sales Spring Ahead
    • 95,000 Urge Senate Action on Condo Financing
    • Housing for All Symposium Set for July 18-19
    • 2017 National Director Entitlement

    • NAR Leads Call to Reduce GSE Fees
    • Hearing Focuses on Banking Regulation
    • Tax Tips to Use All Year
    • 2016 RPAC Major Investor Events
    • Honor Your REALTOR® of the Year

NAR News

Pending Home Sales Fall in May
After steadily increasing for three straight months, pending home sales fell in May and declined year-over-year for the first time in almost two years amid a shortage of homes for sale and rising prices, NAR says.

Existing-Home Sales Spring Ahead
Existing-home sales rose in May to their highest pace in almost a decade, while growing demand and tight supply pushed the median sales price to a record level, according to NAR.

95,000 Urge Senate Action on Condo Financing
Ask your members to join the tens of thousands of REALTORS® who have already responded to NAR’s Call for Action on FHA-insured condo financing. It just takes a visit to the REALTOR® Action Center to send a message urging senators to vote for legislation supported by NAR that would make it easier to buy a condo. The bill, S. 3083, would also streamline rural housing programs and is virtually identical to H.R. 3700, which the House passed unanimously in February.

Housing for All Symposium Set for July 18-19
NAR is hosting an event to address homelessness and housing affordability on July 18 and 19 in Washington, D.C. The Housing for All Symposium will feature officials from HUD and groups including Enterprise Community Partners and NeighborWorks America. Participants will have the opportunity for formulate a plan of action for their own community. Agenda. Register.

2017 National Director Entitlement
Reminder: Your association’s membership figures in NRDS as of July 31 will be used to calculate the number of directors your state is entitled to for 2017. If you have questions or need assistance in resolving membership discrepancies in NRDS, contact the NRDS Help Hotline at 800-868-3225.

Issue Updates

NAR Leads Call to Reduce GSE Fees
NAR, joined by 24 other organizations, is urging the Federal Housing Finance Agency to reduce or eliminate loan-level price adjustments (LLPAs) charged by the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac. In a June 22 letter to FHFA Director Mel Watt, the consortium said that LLPAs combined with guarantee fees that have more than doubled since 2011 have effectively resulted in many qualified borrowers being priced away from the conforming loan market. Details.

Hearing Focuses on Banking Regulations
The Senate held a hearing on June 23 that focused on how regulations implemented to prevent another financial crisis may have unintentionally made it harder for small lenders to make make financing available to their communities. More.

New Resources

Tax Tips to Use All Year
NAR presented a live webcast on June 23 that focused on ways for real estate professionals to stay on top of their taxes throughout the year. Panelists included two accountants who specialize in working with real estate professionals. Share link to recording.

2016 RPAC Major Investor Events
State or local associations that host fundraisers specifically targeting the recruitment of Major Investors and President’s Circle members are eligible for reimbursement of event costs up to $65 per person through the RPAC Major Investor Event-Based Fundraising Program. Apply to host a Major Investor event. Contact Kelly O’Donnell for more information.

Honor Your REALTOR® of the Year
State AEs: Submit information on your state’s REALTOR® of the Year award recipient so they can be recognized at the 2016 REALTORS® Conference & Expo. Simply complete the online submission form. Deadline is Aug. 26.

Why Won't That Lender Give You the Closing Disclosure?
Agents across the country say lenders are refusing to give them their client's closing disclosure, saying it's a privacy violation. But nothing in the law has changed to increase lenders' privacy liability, NAR says, and you can still access the document to advise your clients. The issue is a top story in The Voice for Real Estate news video.

Hit the Road this Summer
Whether it’s a business trip or vacation, you and your members save year-round on car rentals with Budget®, a REALTOR Benefits® Program partner. From now until Aug. 31, save even more—$25 off your next weekly car rental. See offer for terms and conditions.

Add Designations to .REALTOR Addresses
Let your members know they can add their designation or certification after their name in their .REALTOR web address, giving them an opportunity to showcase their real estate education and specialty. Plus, their first .REALTOR address is free. More.

RCE ADF Deadline Nears
July 1 is the deadline to submit your REALTOR® association Certified Executive (RCE) applicant data form (ADF). Take a one-minute quiz to see how close you are to obtaining the required points on your ADF. Full application. For more info, contact Renee Holland or Krystal Allen.

Register for RCE Virtual Study Group
Registration for Module 3 of the RCE Virtual Study Group is now open. Webinars are scheduled every Wednesday from July 20 through Sept. 28 from 1-1:45 p.m., Central time, and are worth 15 points on the RCE ADF. Sign up.

Reserve Copy of Next RLI Magazine
The REALTOR® Land Institute (RLI) will release the summer edition of Terra Firma magazine in July. Reserve a copy.

Legal

Legal Pulse Newsletter for Third Quarter
Structural defects and water-related issues continued to show up in court decisions, but no licensees were held liable for damages over any disclosure issues in the cases published during the last quarter, according to the latest edition of NAR’s Legal Pulse newsletter. The report, for the first three months of 2016, looks at recent cases related to agency, property condition disclosures, RESPA and employment. Executive summary. Highlights video.

 
Report compiled by Sam Silverstein, 202/383-1212. NATIONAL ASSOCIATION OF REALTORS®
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