youtube    facebook   linkedin   twitter

Login Button

It's time to Nominate your fellow members for this year's 2016 awards

Submit your award nomination forms by Friday, November 11th, 2016 

REALTOR® of the year award                                  Rookie of the year award

Rising Star award                                                      Good neighbor award

Affiliate of the year award                                          Dedicated Service award 

Awards will be presented at the 2017 Installation & Awards ceremony Wednesday, January 11th, 2016 

 

Understanding the New FHA Condo financing rules webcast

View the NAR Understanding the New FHA Condo Financing Rules. The webcast featured Sehar Siddiqi and Megan Booth of NAR Government Affairs, who discussed and answered questions about the new rules and the business opportunities that can come out of them. Jon Boughtin of NAR Communications hosted the event. 

 

Additional Resources 

HUD lookup tool 

NAR condo webiste 

FHA loan limit lookup 

 

Understanding the new FHA Condo Financing Rules

NAR is hosting a live webcast on Friday, Oct. 28, at 2 p.m., Eastern time. To help you understand the new FHA condo financing rules and give you an opportunity to ask questions about them. Register here

 

REALTOR® Place-making Grant a SUCCESS!

after photo

The Northern Kentucky Association of REALTORS® and The City of Southgate held a ribbon cutting event to mark the installation of the Little Free Library® and reading bench on Tuesday October 11th This project was a part of the National Association of REALTORS® Place-making initiative. Place-making is a relevant topic to REALTORS® because as a place becomes more desirable and welcoming, properties around that place increase in value and improve the quality of life in our communities. The City of Southgate and their citizens were both very excited about the Little Free Library® and reading bench as it made an existing public gathering place more robust by adding seating and the little free library which promotes literacy and community sharing."Southgate has always been a very walkable community, and this project will just enhance that even more," Mayor Hamberg said."I believe we are one of the few cities in Northern Kentucky that didn't have a park bench outside its city building, so we are very appreciative of this commitment to our community by The Northern Kentucky Association of REALTORS®."And the Little Free Library® will be great for kids walking to and from school and for our residents to pick up and drop off books," he said.The back of the Little Free Library® reads USE A REALTOR® while the side panels sport the REALTOR® logo, we did this to promote the REALTOR® brand and to encourage the public to utilize a REALTOR® in their home buying & selling processes. The project also served as an excellent opportunity for REALTOR® members to engage with and strengthen the communities they do business in."We are honored to participate in this tremendous project along with the National Association of REALTORS® and The City of Southgate," said Northern Kentucky Association of REALTORS® president Jim Simpson. "The bench and library will enhance literacy, walk-ability and place-making, which improves communities by transforming public spaces into vibrant community places." We encourage all our members to get involved in their communities and in future community outreach projects. 

LFL collage

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