Monthly Archive:: July 2012

QM, QRM, Basel III: Mortgages for the Wealthy

Capital and mortgage financing rules being drafted in Washington and elsewhere raise the possibility that the United States will become increasingly split between affluent home owners and less affluent renters, because lenders will be constrained to stay within tight...
July 30, 2012

Jumbo Mortgages: What Your Clients Need to Know

When you think of jumbo mortgages you might think of expensive homes, but in many markets throughout the country prices are high enough that jumbos are needed just to buy a home that’s not much more than the median...

RU: Rigorous, Academic—and Very Practical

REALTORS® have their own university now, and it’s both a very real university and a very different one. It’s real in the sense that the first degree-granting program on offer—the Master of Real Estate (MRE)—is a fully recognized degree...
July 25, 2012

Proposed HUD-1, GFE Revamp: Too Much?

About two years ago, the U.S. Department of Housing and Urban Development revamped the HUD-1 Settlement Statement and the Good Faith Estimate (GFE). Among other things, the forms were shortened and some “tolerances” were added to decrease the incidences...
July 19, 2012

$109 Billion to Transportation: Does it Matter?

When President Obama signed into law the long-term reauthorization of federal flood insurance about two weeks ago he also reauthorized the government’s transportation funding programs. The two were part of the same bill. We think of transportation a lot...
July 17, 2012

Libor: The Big Fix

Perhaps you’ve just noticed the headlines emerging around Libor, or maybe you haven’t even seen them yet. Either way, this story, which has been in the European press for a few weeks now and is just now starting to...
July 13, 2012

Why Flood Reauthorization is Such a Big Win

REALTORS® claimed a big victory last week when President Obama signed into law the 5-year reauthorization of the National Flood Insurance Program. NAR spent years advocating on behalf of this legislation and its 1 million members, by participating in...
July 9, 2012

Your Victory on the NFIP Reauthorization

A message from NAR President Moe Veissi: YOU DID IT! Late last week Congress finally acted on one of your key legislative priorities, a five-year reauthorization of the National Flood Insurance Program (NFIP). Even better news, we just received...

Court Side: The Great Promise—and Limits—of the Supreme Court’s Sackett Decision

The magazine’s April 19 legal webinar with National Association of Realtors® attorneys Ralph Holmen and Finley Maxson made a good jumping off point for a series of blog posts. In previous posts, I discussed the RESPA case, Freeman v....
July 2, 2012