Dee Dee
Elite Member
- Joined
- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
Yikes!
I don't know how I missed this:
http://realtytimes.com/rtcpages/20061120_thinkingbig.htm
:Eyecrazy:
I don't know how I missed this:
http://realtytimes.com/rtcpages/20061120_thinkingbig.htm
Lereah called the big Democratic congressional win a "positive turn." "From a regulatory perspective, I think it's great," the economist said. "The Bush White House, a White House that has been pro-banking, not pro-real estate, has been declawed."
Also next year, NAR expects the probable new chairman of the House Banking Committee, Rep. Barney Frank, to focus more on affordable housing and less on predatory lending. Describing the Massachusetts Democrat as "reasonable" and "pragmatic," staff lobbyist Lynn King told a convention briefing that Rep. Frank "is no fan or regulators who attempt to legislate by regulation."
Specifically, the NAR as well as other housing finance interests want to eliminate the FHA's 3 percent downpayment requirement, increase its loan limits, raise the cap on loan terms to 40 years, allow the agency to switch to risk-based pricing, move the condominium loan program to the single-family loan fund, and strike the limit on reverse mortgages.
:Eyecrazy: