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Blog entries tagged with "legislation":
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers
and brokers listed on this site. These real estate profiles, blogs and
blog entries are provided here as a courtesy to
our visitors to help them make an informed decision when buying or selling a house. ActiveRain
Corp. takes no responsibility for the content in these profiles, that are written by the members
of this community.
© 2007 ActiveRain Corp. All Rights Reserved 
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Well I am at the end of the primary season in Idaho. In 11 days I will know if I am successful at convincing enough Democrats to vote for me to stay on the Ballot. It has been an interesting time. Not to much real estate but the market is not … (0 comments)
… (3 comments)
The Senate Community and Urban Affairs Committee held a hearing concerning eminent domain legislation, S757 - Rice (D28) on May 5, 2008. The bill did not receive enough votes to pass the committee, but will be placed for a vote again on Thursday, May 15.The bill revises current procedures for the … (0 comments)
Fannie Mae Changes Policy and Pricing on "Conforming" Jumbos
Lookie hear what the house passed,
Today The House approved a bill that will send states $15 billion to buy and fix up foreclosed properties. This bill would provide loans and grants to areas hit hardest by the housing crisis.
Currently, the County of Simcoe is looking for public input on its proposed growth strategy. The idea behind it is to have a "Made In Simcoe" plan to comply with the Province's Places To Grow legislation. Basically, it looks at how much growth we should have, where it should be located … (2 comments)
NAR has posted details on 2 bills originating in the House that could have positive results for the public, and by these benefits, the RE business in general. Both bills are very different and will affect different segments of the population.
This is an email that has been posted in the LTB forum and is very appropriate for the Activerain community... Please read and I urge you to follow the link and submit your opposition to this potential legislation...The reason for this memo, a regulatory call to action, deals with a nearly … (1 comments)
REAL ESTATE LEGISLATION 
An article from CNNMoney.com, reports that key legislators, Bush administration officials, banking regulators and the presidential candidates have agreed on the idea of letting the Federal Housing Administration back new loans for homeowners at risk of foreclosure. All of the plans that have been proposed would let the FHA insure mortgages for troubled … (1 comments)
Just today I've had 2 instances of my own clients asking for FREE yard signs. They've already had signs and they've been lost, damaged, what have you, and they want replacements (I've been very upfront disclosing that we do charge for replacements but the expectation that they can get something for nothing … (4 comments)
$15 Billion Housing Fix On The HorizonSenate begins discussion on package to help those hurt in housing crisis The Senate has begun debate on a $15 billion bipartisan housing relief package that will soon go to vote. As election-year pressure to enact a quick response to the foreclosure crisis has increased. This … (1 comments)
Currently we have many folks who are facing short sale/foreclosure who want to keep their homes but can no longer afford the new payments, so they come on the market as short sales/foreclosures. With each one of these cases coming onto the market, the overall situation only gets worse for the … (4 comments)
Like it or not, some sort of borrower bail-out law is on the way. There is some good news about the recent Senate proposal in that the bankruptcy cram down provisions have been dropped. Also, the proposal to have FHA buy up mortgages at a reduced balance has been omitted. The … (0 comments)
Mar 13, 2008 - Washington, DC - Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing and Urban Affairs, today announced his intention to introduce legislation that will create a new program within the Federal Housing Administration (FHA) to provide aid to distressed borrowers currently trapped in mortgages … (5 comments)
The Fight Against Identity Theft in Missouri
Missouri HB1531 Prohibits businesses from sending unsolicited commercial mail to people who register with the Attorney General. That's right no post cards, no Christmas cards and God forbid no advertisements.
The Legal Description
While economic news on the housing front is doom and gloom nationally, the news isn't as bad in St. Louis. Certainly new home sales are down and resale has taken a hit too but many of the national reports are skewed by the statistics of the East and West coasts and … (1 comments)
HR 3609 - 5 Things You Need To Know About The Senate's mortgage Fix
The Americans With No Abilities Act (AWNAA)WASHINGTON , DCMay 2nd, 2009After relentless hours in her first 100 days working on the economy, President Hillary Clinton and the Democratic Congress are considering sweeping legislation which will provide new benefits for many Americans.The Americans With No Abilities Act (AWNAA) is being hailed as … (7 comments)
President Bush will now sign the Economic Stimulus package into law. Last week, Congress gave overwhelming final approval to the Economic Stimulus Package supported by NAR and REALTORS® across the country. As a result, the government will be sending payments to most American households and grant tax incentives for business investment.The … (6 comments)
**Click Here to See the Original Post on WealthWithMortgage.com!** 
Realtors® from all over the state, myself included, made their way to Olympia this week to advocate for Washington’s quality of life - jobs, homes and communities. We spent some time Thursday and Friday meeting with state Senators and Representatives, and talking to them about the housing market in Washington … (1 comments)
You likely didn't see it in the news, but Congress renewed a key piece of legislation that could help to add some ballast to the already unstable mortgage markets. 
I was just responding to a comment posted in the "Is this a typical loan scenario" blog. After reading this blog and the comments for the past several days, I realized that the tone was changing. Amidst my response, I realized an idea that I personally thought deserves a blog of … (12 comments)
The State of GA legislators are about to reconvene in January and a plan to debate the elimination of property tax is being considered called GREAT (GA Repeal of Every Ad Valorem Tax). In its stead would be replacement funds from a statewide sales tax. Advocates of this plan believe that … (4 comments)
Well, 2007 is almost over finally. This has been quite a year! Never in my 8 years of doing loans have a seen so many changes so fast. I find myself wondering what 2008 holds for us in the Mortgage & Real Estate business. 
The Mortgage Action Alliance posted a summary of HR 3915 and forwarded it to their members. Many members of Active Rain, The MHVMBA and NAMB fought to have changes made so the bill became law as a more consumer and industry friendly law. It still needs to go to the Senate … (2 comments)
This is, in my opinion, worthy of your time if you're at all involved in the mortgage lending business: http://www.mortgagenewsdaily.com/11202007_Title_3_HR_3915.aspAll too often I've seen the industry cry foul when bad things happen...only to wonder where all the protests and objections were before the perceived crises became reality. It's crunch time. Agree, … (0 comments)
3915 – Getting Warmer This bill has passed the house, though many changes were made from initial drafting to the final version. Brokers will still have the ability to earn YSP Borrowers can still finance origination costs The national registry will apply to all originators There will be … (1 comments)
This legislation passed the House floor last night. Here is the link to HR 3815 http://www.house.gov/apps/list/press/financialsvcs_dem/press110607.shtml It will have a dramatic effect on many aspects of our industry. Most in this industry only want to do what is best for our clients. I personally value the relationships I have built (and will … (6 comments)
Much has been written and discussed of late about an unexpected and unintended consequence of recent and well intentioned do-not-call legislation that was enacted to keep unwelcome sales calls from bothering consumers. It should come as no surprise to anyone that many well intended laws and government initiatives designed to further … (1 comments)
The other day, I showed you how the gas stations and mortgage brokerages have a lot in common. You can read it here. As promised, there is more to the story between Big Moe's and BP. Recall that Big Moe's is just across the street from BP. Since Big Moe's doesn't have much overhead, he … (5 comments)
Military personnel would receive tax benefits and access to low-interest home loans under legislation winning unanimous approval Tuesday in the House.
While there is a lot being said about the current pending legislation HR3915, do not succumb to any scare tactics. Learn everything there is to learn about the bill and it's ramifications. I am not for or against it yet, as I feel much needs to be studied & learned about … (2 comments)
The U.S. House Committee on Financial Services is considering Bill H.R. 3915 as a response to the housing crisis. One of its two main provisions is to prohibit brokers from earning even disclosed YSP. Already brokers must disclose YSP, while banks don't. Under this law, brokers may not even earn it. … (0 comments)
… (4 comments)
Maryland Realtors will be amassing in Annapolis today to protest a number of proposed taxes being considered in this special session that affect real estate. Because Gov. O'Malley's tax package is so broad, there's been little news coverage on these taxes, but you should know about the proposals and pass the … (0 comments)
Recently NW Ohio was widely associated with the illegal business practices of a local real estate investment company. The owners of the company were shutdown and prosecuted by the Federal government and are serving their time. No problem - right? Wrong. 
Mortgage brokers and Broker Banks can enhance their profits by up-selling you on the interest rate you qualify for on your loan. A loan broker may talk you into taking out a mortgage for 6.5%, but you aren't aware that you actually qualify for a 6% loan and the broker sold … (9 comments)
The Mortgage Cancellation Tax Relief Act, H.R. 3648, passed in the House of Representatives by a vote of 386 to 27. H.R. 1876 amends the Internal Revenue Code of 1986 to exclude from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations.This is fantastic news for those … (0 comments)
Realtors explain legislation, bring clarity to property tax lawsBy Chris Van OrmerEven though the effort is temporarily tabled, the Citrus County Realtors Association hosted a tax reform education session Tuesday to explain how a Super Homestead Exemption would work to the benefit of all homeowners, mobile homeowners, small business owners and … (0 comments)
Reform Legislation The Expanding the American Homeownership Act, H.R. 1852, known as FHA Reform or FHA Modernization, was approved by the U.S. House Financial Services Committee on May 3, 2007. The bill now awaits a vote by the full House of Representatives. It will enable the FHA to reach more prospective … (1 comments)
New York Senator Charles Schumer has introduced a new bill to temporarily raise the Capitalization for the portfolios of Government Sponsored Enterprises Fannie Mae and Freddie Mac. It appears Schumer and many Democrats in Congress, including House Financial Services Committee Chairman Barney Frank, expect Fannie and Freddie to help with … (5 comments)
Just received this letter from our Primary Lending Manager. In the state of Utah we're regulated by the Department of Real Estate, and the DRE has attempted to model the mortgage industry after the real estate industry. In other words, the PLM or Broker is responsible for all agents that work … (4 comments)
After new legislation went into effect for mortgage loans on August 1st, 2007, mortgage companies in Minnesota have been scrambling. This new legislation has banned mortgage brokers in MN from doing stated income or No Doc loans. I'm not quite sure why this seems like it was so last minute to … (0 comments)
The Illinois legislature is still preparing to vote on an increase to the transfer tax to pay for mass transit. For the average police officer, firefighter, health care worker and teacher this increase would be over $900 on the average priced home. This will delay some in purchasing a home and … (0 comments)
Interested to hear your thoughts on this. http://www.govtrack.us/congress/billtext.xpd?bill=h110-3081A few highlights from the link...---`(C) VERIFICATION OF CONSUMER INCOME AND FINANCIAL RESOURCES- In the case of any consumer credit transaction secured by a consumer's principal dwelling, the income and financial resources of the consumer shall be verified for purposes of this paragraph by tax … (0 comments)
In Arizona, there are several Home Owners Associations that won't allow "For Sale" signs to be displayed in front of a home. I recently ran into this problem on one of my short sale listings when my client was notified he would be fined if my sign weren't removed. As per … (6 comments)
The full U.S. House voted to approve the Taxpayer Protection Act of 2007. The current law requires a seller to complete an affidavit and supply their social security number at closing. Once this bill is ratified by the Senate and the President signs off, the new legislation would not require social … (2 comments)
California Association of REALTORS Scores Sacramento Victory by John Occhi, Hemet CA REALTOR Hemet CA Real Estate I was just reading through my email and saw an announcement that the California Association of REALTORS (C.A.R.) that legislation that C.A.R. is sponsoring is moving forward.I thought that was a good thing and … (2 comments)
AMENDED IN ASSEMBLY APRIL 10, 2007
AMENDED IN ASSEMBLY MARCH 22, 2007
AMENDED IN ASSEMBLY MARCH 19, 2007
california legislature—2007–08 regular session
ASSEMBLY BILL No. 250
Introduced by Assembly Member DeVore
(Coauthors: Assembly Members Anderson, Benoit, Cook, Gaines,
Garrick, Horton, Jeffries, La Malfa, Maze, Silva, Tran, and
Walters)
(Coauthor: Senator Ackerman) … (1 comments)
Originally posted on HomeFinancingNews.com
As the repercussions from the subprime collapse continue, more states are focusing on legislation which they feel will protect the consumer and strengthen the anemic mortgage industry in their region.
To all,
May 26, 2007 -- If you own real estate in South Carolina (or are considering doing so), two very important pieces of legislation have moved forward this week that will affect you. H.3157 (a/k/a "Quick-Evict"), legislation allowing for the expedited eviction of a tenant, received a favorable report in the Senate … (0 comments)
Emergency in the State of Oregon...according to Senators Avakian and Brown.
Jim Duncan solicits some debate on Cooperative Compensation, where the seller's agent pays the buyers agent in a purchase transaction. Greg Swan (Bloodhoundrealty) wants the lenders to take the lead instead of a more legislative approach.Here is part of what Jim says:As a profession, we need to rid ourselves of Cooperative Compensation … (3 comments)
Unless you've been sleeping in a cave for the last six months, you've probably seen or heard dozens of different news stories about the problem with skyrocketing foreclosure rates, particularly here in the Northeast. In Massachusetts, the newly elected governor is making noise about a moratorium on further foreclosures until he … (4 comments)
The neverending saga continues... Date posted online: Wednesday, April 04, 2007Panel advances property tax overhaul Huge plan tied to slots at horse tracksBY PATRICK GUINANEpguinane@nwitimes.com317.637.9078 Copyright © 2007 nwi.com … (2 comments)
Today I'm still up in Nashville for the third and final day of the Tennessee Association of Realtors (TAR) Spring Conference. Yesterday afternoon we had our Board of Directors meeing, pretty routine, no contentious issues or disasterous pending legislation. One interesting thing we heard was an update on our new, TAR … (1 comments)