Internal News Service Weekly Report for AEs

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Internal News Service
%%20, JULY 2016%%  
  • Senate Passes H.R. 3700
  • Voice for Real Estate: Housing Symposium, Condo Win
  • NAR Supports Financial Choice Act
  • NAR Urges Changes to Distressed Asset Program
  • Senate Passes FAA Bill
  • Discuss Global Initiatives at Leadership Summit
  • Session to Focus on Link Between Home Prices and Future Income
  • RARE Database Webinar Set for July 27
  • Summer Travel Savings from Hertz®
  • Share How You are Involved with BGCA


Senate Passes H.R. 3700
The U.S. Senate unanimously passed H.R. 3700, the "Housing Opportunity Through Modernization Act," on July 14. The legislation includes reforms to current Federal Housing Administration restrictions on condominium financing, among other provisions, and has long been supported by NAR. President Obama is expected to sign it. News release. More.

Voice for Real Estate: Housing Symposium, Condo Win
The latest Voice for Real Estate news video takes a look at the Housing For All symposium NAR hosted this week. Hundreds of housing experts joined NAR to explore solutions to affordable housing and homelessness challenges. NAR Vice President for Government Affairs Sherri Meadows hosted the event, which took place over two days in Washington. The video also looks at NAR's big FHA condo loan win, surveillance video issues, and NAR efforts to curb Americans with Disabilities Act lawsuits. Access and share the video.



NAR Supports Financial Choice Act
NAR has sent a letter to the House Financial Services Committee supporting the Financial Choice Act (FCA), which would update the Dodd-Frank banking regulations. Among other changes, the FCA would make adjustments to the Truth in Lending Act’s definition of "points and fees," allowing for greater consumer choice in mortgage and settlement services under the Ability to Repay/Qualified Mortgage (QM) rule. Details.

NAR Urges Changes to Distressed Asset Program
NAR has asked the FHA to require investors to prioritize owner-occupants when looking to sell a foreclosed property as part of the agency’s efforts to enhance the Distressed Asset Stabilization Program. In a letter to HUD Secretary Julián Castro, NAR President Tom Salomone also expressed support for the FHA’s decision to involve community partners in the acquisition of loan pools through expansion of its auction program to nonprofits. More.

Senate Passes FAA Bill
The Senate has passed the Federal Aviation Administration Reauthorization Act of 2016, which funds the FAA through Sept. 30, 2017, and was approved by the House earlier in July. The bill includes a provision that allows the FAA to authorize Section 333 exemption holders to operate drones for beyond-visual-line-of-sight and night flights. More.



Discuss Global Initiatives at Leadership Summit
Foreign buyers purchased $102.6 billion of U.S. residential property last year. Are your association members prepared for the global marketplace? If you are joining us at the 2016 Leadership Summit on Aug. 22 and 23, don’t miss your chance to discuss your association’s global initiatives. Stop by the NAR Global booth or email Lisa Calarco to set up a time to meet.

Session to Focus on Link Between Home Prices and Future Income
Daniel Cooper, senior economist and policy advisor at the Federal Reserve Bank of Boston, will discuss the impact of rising home prices on the the future income of the children of homeowners during a REALTOR® University Speaker Series presentation on Friday, July 29, from noon-1 p.m., Eastern time. Register to view online.

RARE Database Webinar Set for July 27
Tessa Hultz, RCE, CAE, will explain the REALTOR® Association Resource Exchange (RARE) database and describe how it can help you carry out your role at your association in a webinar on Wed., July 27, at 11:00 a.m., Central time. The webinar is sponsored by AE YPN and is the first in the "Career Tips & Tricks from AE YPN" series. Share registration link.

Summer Travel Savings from Hertz®
Hertz®, a proud REALTOR Benefits® Program partner, is currently offering you and your members three summer deals, including $25 off a weekly rental. These coupons can be combined with your annual NAR discount for even greater savings. Offer good through Aug. 31. Learn more.

Share How You are Involved with BGCA
Share how your association has become involved with its local Boys & Girls Club. NAR is posting some of the stories and photos on In an example, the Rhode Island Commercial and Appraisal Board of REALTORS® participated in the 2016 Spring Cleanup and Beautification Project run by its local Club in Providence. Email your success story to

Receive $500 Cash Allowance for Chrysler Pacifica
REALTORS®, association staff and their family members are eligible for a $500 cash allowance toward the purchase or lease of the Chrysler Pacifica and other vehicles from FCA US LLC. This roomy, eight-passenger Pacifica minivan is equipped with class-leading comfort, convenience and entertainment systems and has available navigation and Wi-Fi subscriptions. Learn more at

Arcadia Assoc. Wins Innovation Grant
Arcadia (Calif.) Association of REALTORS® has been awarded a 2016 Commercial Innovation Grant to help it host a learning and networking session on preparing a show-stopping commercial property listing packet. Talk to your leadership about applying for a grant if you have an innovative idea. Application deadline July 31.



Effort Gains to Curb ADA Lawsuits
Do you have members that own or manage a commercial property that might be in technical violation of the Americans with Disabilities Act? Lawsuits are hitting the industry that force your members to deal with legal issues before they get a chance to correct the violations. An NAR-backed effort to curb those lawsuits passed a key Senate committee. The goal is to give your members a chance to make corrections without having to first settle the lawsuit. This and other legal issues are covered in the latest Voice for Real Estate news video. 

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

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