Bill Keeps G-Fees in Real Estate
A bill by Reps. Mark Sanford (R-SC) and Brad Sherman (D-CA) would require the guarantee fees Fannie Mae and Freddie Mac charge lenders to be used for real estate related purposed and not made available for other governmental uses. NAR and other industry groups support the bill.
NAR: Keep Flood Ins. Going
NAR told lawmakers last week in a hearing on flood insurance that it’s important to reauthorize the federal program before it expires later this year to ensure transactions aren’t stalled or cancelled because of the lack of insurance. Program reforms were also discussed at the hearing.