After making us dizzy jumping from one extreme to the other, it’s good to see the government carefully considering options to stabilize the housing market. ~Bill
On March 21, 2014, in Breaking News, by Robert Freedman
NAR President Steve Brown met at the White House with the federal government’s top housing officer, HUD Secretary Shaun Donovan, and the head of the National Economic Council, Jeffrey Zients, on the reform of the secondary mortgage market yesterday. The effort to replace Fannie Mae and Freddie Mac is gaining steam with the release last week of a plan by the bi-partisan leadership of the Senate Banking Committee.
Sens. Tim Johnson, D-S.D., the committee chair, and Mike Crapo, R-Idaho, the ranking member, released a plan to phase out Fannie Mae and Freddie Mac over time and replace them with a new entity called the National Mortgage Insurance Corporation that would provide explicit federal backing of loans that meet standards of safety and soundness.
NAR is looking carefully at the plan, which incorporated many principles that the association is calling for. Top among them is the explicit federal backing, but the plan also ensures the continuation of the 30-year, fixed-rate mortgage and also paves the way for the return of a robust private market for mortgage-backed securities over time.
Although details are still to be worked out, NAR wants to be sure any mortgage market reform maintains the availability of safe and affordable loans.
One aspect to reform that REALTORS® can take pride in is the bipartisan nature of housing issues on Capitol Hill. Just as both sides of Congress came together earlier this month to pass curbs on escalating flood insurance premiums, members of both parties want reform to succeed so housing can thrive. “It affects every American,” he said. “Whether you are a Republican or a Democrat, people’s financial investments will be protected and maintained.”
With the Senate plan now out, lawmakers in that chamber could start consideration of legislation fairly soon, analysts say.
Article By : Robert Freedman
Robert Freedman is manager of multimedia communications for the NATIONAL ASSOCIATION OF REALTORS®. He can be reached at rfreedman@realtors.org.
Source: http://speakingofrealestate.blogs.realtor.org/2014/03/21/brown-meets-at-white-house-as-mortgage-reform-gains-steam/?om_rid=AAEh6T&om_mid=_BTNINKB85EknFm&om_ntype=NARWeekly
— — — — — — — — —
Bill Salvatore is a member of Heroes Home Advantage, a cash back program for Real Estate buyers and sellers. The program honors Veterans and Active Military Members, Fire Fighters and First Responders, EMTs and Emergency Medical Personnel, Nurses, and Teachers. Through the Heroes Home Advantage program, Realtors give a portion of their commission back to the hero in the form of assistance with closing costs.
Bill is also President of the Phoenix Chapter of VAREP, Veterans Association of Real Estate Professionals. VAREP is focused on education and employment, making real estate transactions smoother and easier for Veterans and Military Personnel, and instructing other real estate related professionals in the best procedures for dealing with these transactions. VAREP is a nationwide non-profit organization with an impressive presence in the Phoenix area.
In founding AZVHV, Arizona Veterans Helping Veterans, Bill has spread his dedication to Veterans and Military throughout the real estate industry. An increasing number of local professionals have joined Bill in offering discounts to these heroes, not only when buying or selling a home but in all aspects of homeownership. AZVHV has developed a wide range of services and is gaining momentum every year. Membership is free. Bill’s only requirements are that businesses be legitimate and willing to offer a discount on their services to Veterans and Military Members.
You can contact Bill at Realty Executives East Valley, 1166 E Warner Rd. Suite 117, Gilbert AZ, 85296. Direct Phone: 602-999-0952. E-Mail: golfarizona@cox.net. Web: www.yourValleyProperty.com. Helpful web sites and blogs: www.AZVHV.wordpress.com / www.cashbackforheroes.wordpress.com / www.VAREP.wordpress.com
