Government Affairs News

MAR represents Maryland REALTORS® by making your voice heard in Congress and at the State Legislature. Our primary concern is protecting your professional and business interests. Our Legislative and Public Policy Committees develop a straightforward political agenda to:

Support and develop legislation that helps our industry, and
Oppose legislation that hurts the free transfer of real estate.

The Legislative Committee typically reviews over 120 pieces of legislation and regulations each year.

NAR Working to Extend Rural Development Loan Program

The National Association of REALTORS® (NAR) started lobbying Congressional budget committees asking them to extend Section 502 loans guaranteed by the Rural Housing Service (RHS). RHS recently announced that funding for its loan guarantees could be exhausted by the end of April. Click below to a see a sample of NAR's letters to Congress, and revisit this site for updates on this effort.

LINK TO ARTICLE...

Senate Committee Prohibits Private Transfer Fees

03/12/2010

The Maryland State Senate's Judicial Proceedings Committee unanimously passed SB 666 on March 11th. This legislation will prohibit private transfer fees in Maryland. To see a copy of MAR's testimony in support of SB 666, click below.

LINK TO ARTICLE...

Annapolis Update

Click on the following link for a review of MAR's Legislative Activities during the work week of March 8.

Video Link

House of Delegates Passes Real Estate Commission Bills

The Maryland House of Delegates passed legislation, HB 83 and HB 406, sought by the Maryland Real Estate Commission. The bills address continuing education and real estate teams.

House of Delegates Passes MAR Septic Legislation

The House of Delegates passed legislation sought by the Maryland Association of REALTORS® and sponsored by Delegates Veronica Turner (Prince George's) and Pam Beidle (Anne Arundel) which will improve the Septic Law passed last April.

MAR 2010 Bill Tracker

02/20/2010

MAR Legislative Committee meets every Monday during Session unless otherwise noted. Click Read More to review MAR's Legislative Committee Bill Positions...

FDIC Provides Additional Information on its Loss Share Agreement With OneWest Bank

In response to NAR's inquiry regarding the viral video circulating amongst the real estate community about the FDIC's loss sharing agreement with OneWest (successor to IndyMac Bank), the FDIC has totally refuted the charge that its agreement has disadvantaged short sales.

Summary of Federal Short Sale Program and FAQs

NAR has issued a new brochure to help members understand the new Home Affordable Foreclosure Avoidance Program (HAFA) that takes effect on or before April 5, 2010. The purpose of the program is to help homeowners, who are unable to retain their homes under the Home Affordable Modification Program (HAMP), to exit gracefully through a short sale or a deed-in-lieu of foreclosure instead of absolute foreclosure.

Maryland AG Doug Gansler Says No to Tax on Forgiveness

Maryland Attorney General Doug Gansler has released an Opinion about some local jurisdictions collecting transfer tax on forgiven debt in a short sale transaction. The opinion concludes that the forgiven portion is not consideration. Click below for more information.

The FHA Announces Changes to Ensure its Long-Term Financial Soundness

Summary of changes: 1) HUD will allow the financing of the upfront Mortgage Insurance Premium (MIP), which will be raised from 1.75 to 2.25% ; 2) There will be a FICO floor - scores below 580 will require a 10% down payment; scores over 580 will keep the minimum downpayment at 3.5%. These changes were announced in a Mortgagee Letter dated January 21. The increased upfront fee will be effective in the spring; the changes in FICO scores are effective immediately. 3) FHA will seek legislation to increase the annual premium .55%. Click 'Read More' for NAR's Issue Brief and further explanation...

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