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Court sides with PHH Upholding RESPA Section 8

On October, 11, 2016, the U.S. Court of Appeals for the D.C. Circuit issued an opinion in the case of PHH v. CFPB. In this case, the court vacated a $109 million penalty imposed by the Consumer Financial Protection Bureau (CFPB) against PHH Corporation for allegedly violating the Real Estate Settlement Procedures Act (RESPA) by paying for referrals where there is federally related mortgage.

The court held in favor of PHH, stating that payments for bona fide services provided and made at fair market value do not violate RESPA, reinforcing NAR’s support of marketing service agreements. The court held the CFPB’s unreasonable departure from longstanding prior RESPA interpretations issued by the Department of Housing and Urban Development (HUD) and retroactive application of its novel interpretation of the law violated PHH’s due process rights. The court also called into question the legal authority and unchecked power of the CFPB and rejected the CFPB’s understanding of their essentially unlimited statute of limitations authority, remanding the case for further proceedings.

See President Tom Salomone's statement on the case

Read opinion here  

For best practices on marketing service agreements, see NAR's RESPA Do's for MSAs.


Read more

2017 Flood Insurance Rates

 On April 1, 2017, National Flood Insurance Program rates are set to rise an average of 6 percent. This is less than the 2016 average andconsistent with the annual 5-10% increases prior to 2012 Biggert-Waters reforms.

Under 2014 Affordability amendments, individual property owners may see a rate increase up to 18% for newer properties and 25% for olderones. Rates for newly mapped properties begin at the lowest or preferred risk rate and gradually increase to full risk using a multiplier tablewhich is also updated as part of the April 1 changes.

Read FEMA'S Summary 

View FEMA flood maps


How can REALTORS® Help? 

REALTORS® can assist consumers in flood prone areas by participating in the National Flood insurance program's Community Rating System (CRS) program. Particulary 340 Hazard Disclosure activities. The CRS program is a voluntary component of NFIP which allows communities to receive discounts for all policy holders based on taking steps above and beyond simply being part of the NFIP. The CRS is a "win-win" program because it reduces a community's vulnerability to floods while reducing the cost of flood insurance premiums for all policy holders in that jurisdiction.The CRS uses a Class rating system that is similar to fire insurance rating to determine flood insurance premium reductions for residents. CRS Classes* are rated from 9 to 1. Today, most communities enter the program at a CRS Class 9 or Class 8 rating, which entitles residents in Special Flood Hazard Areas (SFHAs) to a 5 percent discount on their flood insurance premiums for a Class 9 or a 10 percent discount for Class 8. As a community engages in additional mitigation activities, its residents become eligible for increased NFIP policy premium discounts. Each CRS Class improvement produces a 5 percent greater discount on flood insurance premiums.

 View 340 Hazard Disclosure activities  

View a Hazard Disclosure Sample 




We invite you to attend a Community Outreach Event


Community Outreach

REALTOR® Place-making project with City of Southgate

We invite you to attend a ribbon cutting ceremony on Tuesday, October 10th 2016 at Noon

outside the Southgate City building 122 Electric Ave.

We will be installing a Little Free Library and reading bench as part of the National Association of REALTORS® place-making grant initiative. Place-making is a way to make the communities that REALTORS® engage with better places to live, work and play by transforming public spaces into vibrant community places.This is relevant to REALTORS® because as a place becomes more desirable and welcoming, properties around that place increase in value strengthening residential and commercial real estate and improving the quality of life in our communities.



Looking for GOOD Gently used books

The Association is collecting gently used books through Friday October 7th for a Placemaking Project in the City of Southgate KY.  We will be installing a Little Free Library and reading bench as part of the National Association of REALTORS® Placemaking grant initiative .Placemaking is a way to make your community a better place to live and work by transforming public spaces into vibrant community places. This is relevant to REALTOR® members because as a place becomes more desirable and welcoming, properties around that place increase in value.                                                                                                                                                                  

 If you are interested in becoming a volunteer with this project or others like it contact Veronica Dickerson at This email address is being protected from spambots. You need JavaScript enabled to view it.