Political Contribution Limits Overturned

The Supreme Court of the United States has considered a challenge to the aggregate contributions under federal law that individuals may make to campaigns and committees.

Federal law limits the amounts of federal election-related contributions that an individual may contribute during a two-year election cycle.  Currently, the base limits are as follows: $2600 per election for each candidate (or $5200 total, for both the primary and general elections); $32,400 per year to a national party committee; $10,000 per year to state or local party committee; and $5000 per year to a… Read More

New Appraisal Tools Page on Realtor.org

NAR has added a new resource on the REALTOR.org/appraisal page called “Appraisal Tools.”  The Appraisal Tools page provides links to educational resources for real estate agents who want to educate clients about the appraisal process.  Links include NAR’s new Frequently Asked Questions brochure about appraisals as well as three publications from the Appraisal Foundation including common myths about the appraisal process.  The “Tools” page also has links to Seller and Servicer Guides from Fannie Mae and… Read More

New Appraisal Tools Section on REALTOR.org/appraisal

NAR has added a new resource on the REALTOR.org/appraisal page called “Appraisal Tools.”  The Appraisal Tools page provides links to educational resources for real estate agents who want to educate clients about the appraisal process.  Links include NAR’s new Frequently Asked Questions brochure about appraisals as well as three publications from the Appraisal Foundation including common myths about the appraisal process.  The “Tools” page also has links to Seller and Servicer Guides from Fannie Mae and Freddie Mac, as well as the Green MLS toolkit and a Field Guide to Appraising a Real Estate Office. 

Proposed Rule Issued on AMCs

On March 24, 2014, six federal agencies issued a joint proposed rule to implement minimum requirements for state registration and supervision of appraisal management companies (AMCs). States will not be required to establish an AMC registration and supervision program, and there is no penalty imposed on a state that does not establish a regulatory structure for AMCs; however, an AMC will not be able to provide appraisal management services for federally related transactions in states that have not established a regulatory structure laid out in the proposed rule. Participating states will… Read More

Fotolia_60191899_Legal

NAR Joins MOVE, Inc. Lawsuit Against Zillow, Samuelson

NAR is joining a lawsuit filed by MOVE, Inc. against Zillow and new Zillow Chief Industry Development Officer Errol Samuelson. In addition to NAR and MOVE, the plaintiffs include RealSelect, Inc., Top Producer Systems Company, and Realtors® Information Network, Inc.

NAR’s relationship with MOVE and realtor.com® is based on a mutual respect for REALTORS® and their efforts to bring online… Read More

NAR Joins MOVE Inc. Lawsuit Against Zillow, Samuelson

NAR is joining a lawsuit filed by MOVE Inc., against Zillow and new Zillow Chief Industry Development Officer Errol Samuelson. In addition to NAR and MOVE, the plaintiffs include RealSelect, Inc., Top Producer Systems Company, and Realtors® Information Network, Inc.

NAR’s relationship with MOVE and realtor.com® is based on a mutual respect for REALTORS® and their efforts to bring online home buying and selling resources to consumers, and the defendants named in the lawsuit have not demonstrated that same respect.

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New Federal Guidelines Require Creditors to Provide Free Copies of Appraisals and Other Written Valuations

In January 2014, the Consumer Financial Protection Bureau (CFPB) implemented its final rule requiring creditors to provide applicants free copies of all appraisals and other written valuations developed in connection with an application for a loan to be secured by a first lien on a dwelling.  The rule amended Regulation B, which implements the Equal Credit Opportunity Act, to comply with the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).  Prior to the new rule, creditors would provide copies of appraisals only upon an applicant’s request. … Read More