News


  • Student Debt Delaying Millennial Homeownership by 7 Years
    WASHINGTON (September 18, 2017) – Despite being in the prime years to buy their first home, an overwhelming majority of millennials with student debt currently do not own a home and believe this debt is to blame for what they typically expect to be a seven-year delay from buying. This is according to a new joint study on millennial student loan debt released today by the National Association of Realtors® and nonprofit American Student Assistance®. The survey additionally revealed that student debt is holding back millennials from financial... Read More... Read More »

  • Pam Patenaude Right Choice for HUD Deputy Secretary, Say Realtors®
    WASHINGTON (September 14, 2017) – The U.S. Senate today approved the nomination of Pam Patenaude as deputy secretary at the Department of Housing and Urban Development. Following is a statement from NAR President William E. Brown on the vote: “Pam Patenaude is the right choice for deputy secretary, and Realtors® are pleased to see her nomination win approval from the Senate. “She has a big task ahead. Home prices continue to rise in an environment of ever-tightening mortgage credit, which means buyers are struggling to keep pace. That... Read More... Read More »

  • Homeownership a Common Interest, Deserves Protection in Tax Reform Debate
    Iona Harrison (pictured center), chair of NAR’s Federal Taxation Committee, testifies before the Senate Finance Committee on tax reform.  WASHINGTON (September 14, 2017) – Tax reform done right could yield savings and simplification that benefits average Americans, but history shows that misguided reforms can pose significant threats to the economy. That’s the message the National Association of REALTORS® brought to Congress today as Iona Harrison, chair of NAR’s Federal Taxation Committee,... Read More... Read More »

  • Outlook Remains Bright for Commercial Real Estate Despite Price Plateau
    WASHINGTON (September 12, 2017) — Commercial real estate price growth in large markets is expected to flatten over the next year, but strong leasing demand and investor appetite in smaller markets should keep the sector on solid ground, according to the latest National Association of Realtors® quarterly commercial real estate forecast, https://www.nar.realtor/reports/commercial-real-estate-outlook. Backed by the ongoing stretch of outstanding job creation in recent years, national office vacancy rates are forecast by... Read More... Read More »

  • Realtor® Good Neighbor Award Finalists Honored for Their Tireless Efforts to Give Back
    WASHINGTON (September 5, 2017) – The National Association of Realtors® has honored 10 Realtors® as finalists of REALTOR® Magazine’s 2017 Good Neighbor Awards. This award honors Realtors® who make an extraordinary impact on their community through volunteer work. This year marks the 18th year the Good Neighbor Awards program has recognized Realtor® volunteers. Those being honored have donated their time and passion to improve and enrich the lives of the people in their communities.... Read More... Read More »

  • With National Flood Insurance Program Expiring Soon, Realtors® Sound the Alarm
    WASHINGTON (September 5, 2017) – The National Flood Insurance Program is now less than one month away from expiration, raising concerns that homeowners, consumers, and commercial property owners could soon find themselves either unprotected or unable to get a mortgage. In July, the National Association of Realtors® announced it had reached an agreement with the U.S. House Financial Services Committee on key... Read More... Read More »

  • Pending Home Sales Lessen 0.8 Percent in July
    WASHINGTON (August 31, 2017) – Pending homes sales stumbled in July for the fourth time in five months as only the West saw an increase in contract activity, according to the National Association of Realtors®. The Pending Home Sales Index,* www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, decreased 0.8 percent to 109.1 in July from a downwardly revised 110.0 in June. After last month’s decline, the index is now 1.3 percent... Read More... Read More »

  • Existing-Home Sales Slide 1.3 Percent in July
    WASHINGTON (August 24, 2017) – Listings in July typically went under contract in under 30 days for the fourth consecutive month because of high buyer demand, but existing-home sales ultimately pulled back as large declines in the Northeast and Midwest outweighed sales increases in the South and West, according to the National Association of Realtors®. Total existing-home sales1, https://www.nar.realtor/topics/existing-home-sales, which are completed transactions that include single-family homes,... Read More... Read More »

  • Technology, Inventory and Competition Among Firms’ Top Challenges: Realtors® Survey
    WASHINGTON (August 22, 2017) – Keeping up with technology, maintaining sufficient inventory, competition from nontraditional participants and profitability are among the biggest challenges for real estate firms,  according to the National Association of Realtors® 2017 Profile of Real Estate Firms. Conversely, for a third year in a row, the survey found the vast majority of firms have an optimistic outlook for the future of the industry’s growth. Although expectations have slightly... Read More... Read More »

  • Home Prices Jump 6.2 Percent in Second Quarter; Eclipse 2016 High
    WASHINGTON (August 16, 2017) — The headstrong supply and demand imbalances in much of the country slightly tempered the pace of sales and caused home prices to maintain their robust growth in the second quarter, according to the latest quarterly report by the National Association of Realtors®. The national median existing single-family home price in the second quarter was $255,600, which is up 6.2 percent from the second quarter of 2016 ($240,700) and surpasses the third quarter of last year ($241,300... Read More... Read More »

  • Realtors® Report Finds 11 Percent Increase in Commercial Member Income, 19 Percent Increase in Sales Transaction Volume
    WASHINGTON (August 2, 2017) – Commercial real estate markets continue to improve, with Realtors® specializing in commercial real estate reporting both an increase in member’s gross income and sales volume, according to the National Association of Realtors® 2017 Commercial Member Profile. The annual study's results represent Realtors®, members of NAR, who conduct all or part of their business in commercial sales, leasing, brokerage and development for land, office and... Read More... Read More »

  • Pending Home Sales Recover in June, Grow 1.5 Percent
    WASHINGTON (July 31, 2017) — After declining for three straight months, pending home sales reversed course in June as all major regions, except for the Midwest, saw an increase in contract activity, according to the National Association of Realtors®. The Pending Home Sales Index*, www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, climbed 1.5 percent to 110.2 in June from an upwardly revised 108.6 in May. At 0.5 percent, the index last month increased annually... Read More... Read More »

  • Existing-Home Sales Retreat 1.8 Percent in June
    WASHINGTON (July 24, 2017) — Existing-home sales slipped in June as low supply kept homes selling at a near record pace but ultimately ended up muting overall activity, according to the National Association of Realtors®. Only the Midwest saw an increase in sales last month. Total existing-home sales1, https://www.nar.realtor/topics/existing-home-sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 1.8 percent to a seasonally adjusted... Read More... Read More »

  • Realtors®, House Financial Services Committee Reach Agreement to Move Key Flood Insurance Legislation Forward
    WASHINGTON (July 20, 2017) – The National Association of Realtors® today said that significant improvements to the “21st Century Flood Reform Act,” key legislation aimed at strengthening and reauthorizing the National Flood Insurance Program, have cleared the way for endorsement of the bill. Among the changes, Realtors® support the House Financial Services Committee’s commitment to retaining “grandfathering” – a policy that protects homeowners from... Read More... Read More »

  • Foreign U.S. Home Sales Dollar Volume Surges 49 Percent to Record $153 Billion
    WASHINGTON (July 18, 2017) – Fueled by a substantial increase in sales dollar volume from Canadian buyers, foreign investment in U.S. residential real estate skyrocketed to a new high, as transactions grew in each of the top five countries where buyers originated. This is according to an annual survey of residential purchases from international buyers released today by the National Association of Realtors ®, which also revealed that nearly half of all foreign sales were in three states: Florida, California and Texas. NAR’s 2017 Profile of International... Read More... Read More »

  • 84 Percent of Americans See Homeownership as Good Investment, Affordability a Growing Concern
    WASHINGTON (July 12, 2017) — According to the National Association of Realtors®’ 2017 National Housing Pulse Survey, concerns over housing affordability show clear demographic divides especially among unmarried and non-white Americans. More than five out of 10 unmarried and non-white Americans view the lack of available affordable housing as a big problem, compared to only 40 percent of married and white Americans. The survey, www.nar.realtor/reports/housing-pulse-surveys, measures consumers’ attitudes and... Read More... Read More »

  • REach® Technology Accelerator Named Among Best in Nation
    WASHINGTON (July 12, 2017) - REach®, the growth technology accelerator operated by the National Association of Realtors®’ strategic investment arm, Second Century Ventures, was recently named among the top 30 accelerators in the U.S. by the Seed Accelerator Rankings Project, or SARP. Now in its fifth year, SARP is compiled by researchers from the MIT Innovation Initiative Lab for Innovation Science, Rice University and the University of Richmond and aims to provide transparency around performance so that entrepreneurs can make an educated decision when choosing from... Read More... Read More »

  • Home Staging Decreases Time on the Market, Finds Realtors® Report
    WASHINGTON (July 6, 2017) — Sixty-two percent of sellers' agents say that staging a home decreases the amount of time a home spends on the market, according to the National Association of Realtors® 2017 Profile of Home Staging, www.nar.realtor/reports/profile-of-home-staging. "Realtors® know how important it is for buyers to be able to picture themselves living in a home and, according to NAR's most recent report, staging a home makes that process much easier for potential buyers," said NAR... Read More... Read More »

  • Pending Home Sales Tumble in May for Third Straight Month
    WASHINGTON (June 28, 2017) — The ongoing supply shortages that are propping up home prices in many metro areas caused pending home sales in May to slump for the third consecutive month, according to the National Association of Realtors®. None of the major regions saw an increase in contract activity last month. The Pending Home Sales Index,* www.nar.realtor/topics/pending-home-sales, a forward-looking indicator based on contract signings, decreased 0.8 percent to 108.5 in May from a downwardly revised... Read More... Read More »

  • 71 Percent of Homeowners Believe It’s a Good Time to Sell; Economic and Financial Confidence Dips: Realtors® HOME Survey
    WASHINGTON (June 26, 2017) — Existing housing inventory has declined year over year each month for two straight years, but new consumer findings from the National Association of Realtors® offer hope that the growing number of homeowners who think now is a good time to sell will eventually lead to more listings. That's according to NAR's quarterly Housing Opportunities and Market Experience (HOME) survey1, which also found that fewer renters think it... Read More... Read More »

  • Bob Goldberg Named CEO of National Association of Realtors®
    WASHINGTON (June 23, 2017) – Bob Goldberg has been named CEO of the National Association of Realtors®. Goldberg currently serves as NAR senior vice president of Sales & Marketing, Business Development & Strategic Investments, Professional Development and Conventions for NAR. Goldberg was the choice of NAR’s leadership team after an extensive national search. He succeeds Dale Stinton, who is retiring after 36 years at NAR and 12 as... Read More... Read More »

  • Realtors® Highlight Flood Insurance Concerns as House Committee Finalizes Key Markup
    WASHINGTON (June 21, 2017) – The House Financial Services Committee today concluded a markup on multiple pieces of legislation to reauthorize and reform the National Flood Insurance Program. Following is a statement from National Association of Realtors ® President William E. Brown: “Congress has less than four months to reform and reauthorize the critical National Flood Insurance Program. NAR is pleased that Congress is addressing the issue. “NAR supports six of the seven bills that... Read More... Read More »

  • Existing-Home Sales Rise 1.1 Percent in May; Median Sales Price Ascends to New High
    WASHINGTON (June 21, 2017) — Existing-home sales rebounded in May following a notable decline in April, and low inventory levels helped propel the median sales price to a new high while pushing down the median days a home is on the market to a new low, according to the National Association of Realtors®. All major regions except for the Midwest saw an increase in sales last month. Total existing-home sales1, https://www.nar.realtor/topics/existing-home-sales, which are completed transactions that include... Read More... Read More »

  • 5 Root Causes for U.S.’s Depressed Homeownership Rate: New Study
    BERKELEY, Calif., (June 9, 2017) – Despite steadily improving local job markets and historically low mortgage rates, the U.S. homeownership rate is stuck near a 50-year low because of a perverse mix of affordability challenges, student loan debt, tight credit conditions and housing supply shortages. That’s according to findings of a new white paper titled, “Hurdles to Homeownership: Understanding the Barriers” released today in recognition of National Homeownership Month at the National Association of... Read More... Read More »

  • Realtors® Survey: Led By China, Foreign Investment in U.S. Commercial Real Estate on the Rise
    WASHINGTON (June 6, 2017) — One-fifth of surveyed Realtors® practicing in commercial real estate closed a sale with an international client in 2016, and as foreign investors flock to smaller-sized commercial properties in secondary and tertiary markets, many Realtors® are confident that increased sales and leasing activity will occur in 2017.   This is according to the 2017 Commercial Real Estate International Business Trends survey released today by the National Association of... Read More... Read More »

  • NAR Comments on GSE Appraisal Waivers
    On September 12, 2017, NAR sent a letter to the Federal Housing Finance Agency (FHFA), as well as to Fannie Mae and Freddie Mac (collectively the GSEs), commenting on the recent decision by Fannie Mae and Freddie Mac to allow for data-based valuations rather than traditional in-person appraisals in certain purchase transactions. Given recent complaints of long appraisal wait times and a lack of appraisers in certain areas of the country, NAR is supportive of innovations in the appraisal field that would help alleviate some of these issues and help... Read More »

  • HUD Nominee Approved
    The Senate confirmed Pam Patenaude as Deputy Secretary for the Department of Housing and Urban Development (HUD) by a vote of 80-17. NAR is a strong supporter of Ms. Patenaude, and just last week coordinated a letter of more than 60 groups urging her vote. Ms. Patenaude had vast expience in the housing industry, having worked at HUD, the New Hampshire Housing Finance Authority, and the Urban Land Institute-Terwilliger Foundation. NAR looks forward to working with her at HUD on a number of objectives to promote access to affordable housing. ...... Read More »

  • Advocates Urge Vote on HUD Nominee
    NAR and a coalition of 60 groups sent a letter to the Senate leadership this week, urging a vote on Pam Patenaude to be Deputy Secretary for the Department of Housing and Urban Development (HUD). Ms. Patenaude was reported favorably by the Senate Banking Committee back in June, but her vote has not come to the Senate Floor. Ms. Patenaude previously worked at HUD, and at the New Hampshire Housing Finance Authority. Both these experiences could contribute greatly to the work of HUD today. Signers to the letter, spearheaded by... Read More »

  • FHA Extends Temporary Condominium Guidance
    On Aug. 30, 2017, the Department of Housing and Urban Development (HUD) released Mortgagee Letter 2017-13, Extension of Temporary Approval Provisions for the Federal Housing Administration (FHA) Condominium Project Approval Process, which extends the current temporary guidelines on condominium projects until HUD publishes and implements the Final Rule of Condominium Project Approval. The Final Rule will be incorporated into the Condominium Project Approval Section of HUD Handbook 4000.1. In response to the extension of the temporary condominium guidelines, NAR sent a... Read More... Read More »

  • Committee Approves ADA Reform Bill
    On Thursday, Sept. 7, the House Judiciary Committee held a markup of H.R. 620, the ADA Education and Reform Act of 2017, sponsored by Rep. Ted Poe (R-TX). The Judiciary Committee, led by Chairman Bob Goodlatte (R-VA) and Ranking Member John Conyers (D-MI) considered the legislation, which adds a "notice-and-cure" provision to the Americans with Disabilities Act (ADA), giving businesses an opportunity to fix alleged violations before a suit can be filed against them. It also creates an education program between the Department of Justice, states/local governments, and businesses to...... Read More »

  • GSEs Appraisal-Free Purchase Mortgages
    On August 18, 2017, both Freddie Mac and Fannie Mae, collectively the Government Sponsored Entities (GSEs), announced they would allow for the use of their proprietary automated valuation tools in lieu of traditional appraisals for some purchase loan transactions. Freddie Mac will utilize their automated collateral evaluation (ACE) to determine home value by using data from multiple listing services and public records as well as their own data of historical home values to determine collateral risks. Homes must have an 80% or lower loan to value, be a one unit single-family...... Read More »

  • CFPB Final Rule on CD Sharing Effective Date
    On July 7, 2017, the Consumer Financial Protection Bureau (CFPB) released the final rule amending the “Know Before You Owe” (KBYO or TRID) mortgage disclosure rule. As advocated for by NAR, the final rule clarifies the ability to share the Closing Disclosure (CD) with third parties - a victory for real estate professionals nationwide. As outlined in the 2016 proposed rule, the final rule highlights an existing exception within the Gramm-Leach-Bliley... Read More... Read More »

  • FinCEN Issues Money Laundering Real Estate Advisory and Renews GTOs
    The U.S. Department of Treasury’s lead agency in the fight against money laundering, the Financial Crimes Enforcement Network (FinCEN), has released two notices related to money laundering risks associated with real estate transactions. The first is an Advisory to Financial Institutions and Real Estate Firms and Professionals (FIN-2017-A003) to provide information on money laundering risks for real... Read More... Read More »

  • 2017 Appraisal Summit
    On August 2, 2017, the National Association of REALTORS® hosted an Appraisal Summit, focused on the role of Appraisal Management Companies (AMCs) and their effect on the appraisal industry. A variety of stakeholders in the appraisal field, including AMCs, lenders, federal regulatory officials, trade association representatives, and REALTOR® agents and appraisers attended the Summit. NAR Vice President of Government Affairs Kevin Sears led the discussion, which covered topics ranging from how AMCs and lenders handle appraiser independence issues to ways on the ground agents and... Read More... Read More »

  • NAR Supports SBA Cyber Security Bill
    On Wednesday, August 2, the Senate Small Business Committee marked up and approved by a voice vote of 19-0 S. 1428, the Small Business Cyber Training Act of 2017, sponsored by Senator Risch (R-ID), with cosponsors Senators Shaheen (D-NH), Kennedy (R-LA), Duckworth (D-IL), and Peters (D-MI). This bipartisan bill would require small business development centers that have received grants from the SBA to have staff who are certified in cyber security planning methods, and authorizes the SBA to fund that training.  If passed, it will increase access to cyber security... Read More »

  • Senate Health Reform Fails to Advance
    In an early morning Friday July 28th vote, the Senate Republican leadership’s so-called “skinny” Affordable Care Act (ACA) repeal bill failed to gather the 50 votes required for passage. Senators Susan Collins (R-ME), Lisa Murkowski (R-AK) and John McCain (R-AZ) sided with Democrats in a 49-51 roll call vote. Released a few hours before the vote, the 8-page bill would have repealed the ACA’s individual mandate, suspended the employer mandate for 8 years, repealed an ACA tax on medical devices, increased contribution... Read More... Read More »

  • NAR Opposes FHA Flood Regulation
    On July 26, 2017, NAR, as part of a broad coalition of housing, lending, insurance and consumer groups, opposed a Federal Housing Administration (FHA) regulation barring lenders from accepting private flood insurance on FHA insured loans, and urged its immediate reversal. On the same day, NAR wrote the full Senate requesting support and co-sponsorship of S. 563, “The Flood Insurance Market Parity & Modernization Act” (Heller [R-NV]; Tester [D-MT]). The bill would remove additional barriers to the private market, which increasingly, is offering better coverage at... Read More... Read More »

  • EPA Releases Rule to Withdraw WOTUS
    Fulfilling a portion of an executive order by President Donald Trump, the EPA and the U.S. Army Corps of Engineers have released a proposal to rescind the Waters of the United States rule that expanded federal jurisdiction under the Clean Water Act. The proposal published in the Federal Register on Thursday, July 28 would nix the 2015 WOTUS rule and reinstate the definition of the streams and wetlands subject to... Read More... Read More »

  • NAR Urges FCC to Maintain Net Neutrality
    NAR filed comments with the Federal Communications Commission on Monday July 17 urging the agency to maintain the Open Internet Order that was put into effect in 2015.  This order creates rules establishing network neutrality.  The FCC has proposed rolling back those rules and is currently seeking public comment. Net neutrality is shorthand for the concept that Internet users should be in control of what content they view and what applications they use on the Internet. More specifically, net neutrality requires that broadband networks be free of restrictions on content,... Read... Read More »

  • NAR Signs onto Credit Scoring Coalition Letter
    On July 19, 2017, NAR signed onto an industry coalition letter in support of the “Credit Score Competition Act,” introduced by Senators Scott (R-SC) and Warner (D-VA). The legislation would instruct Fannie Mae and Freddie Mac to utilize newer, more predictive and inclusive credit models, which will responsible expand access to mortgage financing for many Americans. Read the Coalition Letter... Read More »

  • Commercial NFIP Priorities Sent to Senate
    On July 14, NAR, in coalition with other commercial real estate trade groups, sent a letter to the Senate Committee on Banking, Housing, & Urban Affairs, providing them with a list of ways the National Flood Insurance Program (NFIP) can be improved to be more responsive and effective for commercial real estate.  The Senate Banking Committee is currently working on drafting reauthorizing legislation for the NFIP, which is set to expire on September 30.   The letter asks for six things: Maintain the commercial "opt-out" provision, as passed by... Read More... Read More »

  • Health Care Agency Request for Information
    NAR commented on a Center for Medicare & Medicaid Services (CMS) Request for Information regarding the regulatory environment surrounding the individual and small group health insurance markets. A division of the Department of Health and Human Services, CMS was provided useful evidence on NAR’s unique self-employed and small business membership and associated health care priorities. The letter stresses the need for affordable quality health insurance options in the individual insurance market; protections for preexisting conditions and preventive health and... Read More... Read More »

  • NAR Comments on FHFA "Duty to Serve" Rule
    On July 10, 2017 NAR submitted comments to the FHFA regarding the Agency's proposed “Duty to Serve Underserved Markets” Plans. Ensuring the continued availability of affordable mortgage credit to all qualified borrowers is an obligation of both Fannie Mae and Freddie Mac. Without the affirmative obligation of either of the Enterprises to facilitate the financing of affordable housing for low- and moderate-income families consistent with sustainable homeownership, access to credit in some of these markets would remain limited. As the Enterprises implement their... Read More... Read More »

  • NAR Comments on Energy Regulations
    NAR submitted comments on the most burdensome regulations issued by the Department of Energy.  In response to a Request for Information (RFI) on burdensome regulations, NAR, in its letter, outlined the regulatory burdens posed to the real estate sector by the Home Energy Performance Score and the Property Assessed Clean Energy Program. NAR welcomes the opportunity to promote effective, voluntary energy efficiency practices among property owners throughout the country. The association will continue to work with NAR members, property owners and all interested parties to educate... Read More... Read More »

  • CFPB Final Rule Clear on Ability to Share Closing Disclosures
    On July 7, 2017, the Consumer Financial Protection Bureau (CFPB) released the final rule amending the “Know Before You Owe” (KBYO or TRID) mortgage disclosure rule. As advocated for by NAR, the final rule clarifies the ability to share the Closing Disclosure (CD) with third parties - a victory for real estate professionals nationwide. As outlined in the 2016 proposed rule, the final rule highlights an existing exception within the Gramm-Leach-Bliley Act (GLBA) and implementing Regulation P that allows lenders to share the CD with third parties (sections 502(e... Read More... Read More »

  • NAR Joins Coalition to Preserve Net Neutrality
    NAR has joined a coalition of businesses and public interest groups working to preserve Open Internet rules—also known as network neutrality. NAR together with tech companies like Facebook, Microsoft and Amazon and main street companies like Walmart have joined together to advocate for preserving net neutrality. The coalition will work at the Federal Communications Commission (FCC), in the courts and on Capitol Hill to ensure that internet remains an open and level playing field, an issue critical to our business success. Net neutrality is shorthand for the concept that... Read More... Read More »

  • NAR Submits Statement on Housing Finance Reform
    On June 29, 2017, the U.S. Senate Committee on Banking, Housing & Urban Affairs held its first or several hearings of the year on housing finance reform. The hearing, entitled “Principles of Housing Finance Reform” consisted of three witness panelists from the Mortgage Bankers Association, Housing Policy Counsel of the Financial Services Roundtable, and Center for Responsible Lending. NAR submitted a statement highlighting that any new housing finance system must ensure that in all markets mortgage capital will always remain available for creditworthy... Read More... Read More »

  • NAR Comments on GSE Capital Reserves
    On June 27, 2017, NAR submitted letters to the U.S. Federal Housing Finance Agency (FHFA) Director, U.S. Treasury Secretary, members of the U.S. Senate Committee on Banking, Housing & Urban Affairs and U.S. House Committee on Financial Services, expressing concern related to the scheduled elimination of capital reserves held by Fannie Mae and Freddie Mac (Enterprises). Specifically, NAR letters state to Congress and the banking agencies that in the absence of comprehensive housing finance reform, policymakers need to address the declining capital reserves at the Enterprises.... Read More... Read More »

  • House Begins Flood Insurance Markup
    On June 15, 2017, the House Financial Services Committee began consideration of a series of bills to reform and reauthorize the National Flood Insurance Program (NFIP). The Committee is expected to vote on these bills and then combine them into one package for consideration by the full House. On the first day of the mark up, the Committee approved two of the seven bills: The NFIP Policyholder Protection Act, which caps NFIP rates and passed unanimously (53-0); and The 21st Century Reform Act, which includes a 5-year... Read More... Read More »

  • NAR Weighs-In on NFIP Bills
    On Thursday, June 15, the House Financial Services Committee began marking up seven bills reauthorizing the National Flood Insurance Program (NFIP). These bills would reauthorize the NFIP for five years, as well as make changes to the program and how it's administered, some which will affect the way that commercial properties purchase and utilize the program. NAR sent a letter to the Committee ahead of the markup, which was joined by several commercial real estate trade groups, providing a list of priorities for commercial real estate to consider including in... Read More »