NAR has a lot going on fighting for our Realtors®, check out what your association has been doing for you!
1. NAR letter to Speaker Pelosi, Leader McCarthy, Leader McConnell, Leader Schumer, and your member in the House and Senate.
The letter thanks Congressional leadership for their work to assist small businesses impacted by the COVID-19 crisis in the CARES Act. This law was written to provide broad, much-needed protections for small businesses and independent contractors, and I urge you to support the funding these programs will need to meet demand and ensure the legislation is implemented as intended.
2. NEW Federal Advocacy Resource—Quick Reference Guide to Recent Health Insurance Changes
The Guide provides a high- level overview organized by source and type of coverage (Employer, Medicare, ACA for testing, treatment, etc.), including numerous helpful links to federal, state and other official sites for those interested in learning more. It also prominently features the REALTOR Insurance Marketplace, including the new Member Telehealth benefit.
You can find the Guide among the Advocacy Group FAQs here:
3. NAR Calls for Servicing Relief as Banks Tighten Mortgages
The real estate industry is growing alarmed over recent moves to tighten credit standards for new loans to home buyers as banks try to fend off disruption and losses during the COVID-19 pandemic.
The National Association of REALTORS® warns that lending standards could grow even more stringent if federal regulators don’t step in soon to alleviate the servicer logjam in lending.
4. Banks will soon be able to postpone some appraisals until 120 days after a mortgage closes
Citing the need to “extend financing to creditworthy households and businesses quickly in the wake of the national emergency declared in connection with COVID-19,” a trio of federal banking regulators announced Tuesday evening that banks will soon be able to delay getting an appraisal on a property for as many as 120 days after a mortgage closes.