Peninsula REALTOR® July 2018

Federal Issues
NFIP CTA ASAP!!!!
Did you know that the National Flood Insurance Program (NFIP) is set to expire on July 31 st ?
Did you know that if the program expires, over 40,000 transactions PER MONTH across the
nation are at risk of not closing? YES – 40,000 PER MONTH! Did you know that in just a
couple of minutes, you can send a message to your Congressman and Senator asking them to
reauthorize this critically important program? Check out the NAR CALL-TO-ACTION on the
NFIP, and respond TODAY! It is so easy, and your input is SO important.
https://realtorparty.realtor/member-consumer/calls-for-action/takeaction.html?vvsrc=%2fcampaigns%2f59553%2frespond%3futm_source%3drorg%26utm_mediu
m%3dwebsite%26utm_campaign%3dflood2018%26TrackingID%3dflood2018-rorg-website
NAR Comments on the FHFA's Proposal to Amend the Home Loan Banks' Affordable Housing
Programs
On Friday, June 8th, NAR submitted a Comment Letter to the FHFA in response to the regulator’s
request for input on proposed amendments to the Federal Home Loan Banks’ (FHLB) affordable housing
programs. NAR’s letter focuses on three points: 1) To the extent that the proposed amendments to the
AHPs reduce regulatory burden for banks making home loans to credit worthy borrowers, NAR supports
2) NAR applauds the proposed increase in the share of AHP funds designated for homeownership from
35 percent to 40 percent 3) Given the current housing shortage, the FHFA should consider making the
construction of owner-occupied homes an additional priority for use of AHP funds.
USDA Extends Foreclosure Moratorium
On June 13, 2018, the U.S. Department of Agriculture (USDA) extended the Presidentially-Declared
Disaster Areas foreclosure moratorium for areas affected by Hurricane Maria. The moratorium is
extended until September 17, 2018. The extension applies to both new and previously initiated
foreclosures.
For additional information and details on these or other issues, or to schedule a presentation by
Susan Gaston at your next sales meeting, please contact Susan at susan@gastongroup.com or at
757-871-1445.
Peninsula REALTOR® page 15
July 2018