2011

License Fee Only Increases by $100 – December 6, 2011

Freddie Mac Amends Short Sale Affidavit Policy – 12/1/2011

License Fee Renewal Update – November 17, 2011

Update From NAR Meeting in Anaheim – November 15, 2011

House Finance Subcommittee Hearing – Testimony Welcomed – 10/27/2011

Act Now on Proposed License Renewal Fee of $810 – 10/24/11

Letter From AREC Chariman Regarding Proposed Fee Increase – 10/10/2011

Decreased Loan Limits Will Impact Alaska – 9/23/2011

Janice Strong Named 2011 Realtor Of The Year – 9/19/2011

REALTORS To Host Housing Summit – 9/9/2011

Debt Ceiling Timeline – 8/2/2011

Fed Keep Interest Rates Low Until 2013 – 8/10/2011

Flood Insurance Call For Action Is A Success – 7/14/2011

Coalition Designed to Monitor “QRM” Rule – 6/7/2011

Directors Say Yes To Political Initiative – 5/19/2011

What Have You Done For Me Lately? NAR Director’s Report – 5/18/2011

Highs & Lows of the Legislative Session – AAR Lobbyist Wendy Chamberlain – 5/16/2011

Creditworthy Homebuyers Need Sound Financing – 5/10/2011

Alaska Realtors To Promote Legislative Agenda in D.C. – 4/28/2011

Realtors Two For Two This Session – 4/18/2011

NAR Announces Political Survival Initiative – 3/26/2011

Update From Juneau – Half Way Through Session – 3/25/2011

Update From Juneau – First 30 Days – 2/15/2011

Tax Revision Would Harm Home Ownership – 2/6/2011

National Legislative Priortities – 2/2/2011

Mortgage Interest Deduction Must Not Be Targeted – 1/31/2011

Dave Feeken Scholarship Fund – 1/16/2011

Realtors® Applaud House Passage of “Housing Opportunity Through Modernization Act”

WASHINGTON (February 2, 2016) — The U.S. House of Representatives voted today to advance legislation that will expand opportunities for homeownership. H.R. 3700, the “Housing Opportunity Through Modernization Act,” includes a number of initiatives that have strong support from the National Association of Realtors®, who hailed the vote as important progress for home buyers and sellers.

“This legislation will put homeownership in reach for more families, and we applaud Congress’s work to take us there,” said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. “We look forward to seeing it advance through the legislative process and to the President’s desk, so it can be signed into law.”

NAR testified last year in support of H.R. 3700 before the U.S. House Financial Services Subcommittee on Housing and Insurance. In particular, NAR championed the inclusion of reforms to current Federal Housing Administration restrictions on condominium financing.

Condominiums are among the most affordable homeownership options for first-time homebuyers, as well as lower income borrowers, but barriers to safe, affordable mortgage credit for condos still exist. H.R. 3700 takes a number of steps to address those concerns.

These include efforts to make FHA’s recertification process “substantially less burdensome,” improving a process that is often costly and which condo developments must repeat every 24 months. H.R. 3700 also lowers FHA’s current owner-occupancy requirement from 50 percent to 35 percent and requires FHA to replace existing policy on transfer fees with the less-restrictive model already in place at the Federal Housing Finance Agency.

Additionally, the “Housing Opportunity Through Modernization Act” streamlines the process for exemptions to FHA’s rule requiring that condominium projects have no more than 25 percent of the space dedicated to commercial use. This effort is in line with the Department of Housing and Urban Development’s initiative to promote neighborhoods with a mix of residential housing, businesses and access to public transportation.

Finally, H.R. 3700 includes further support for rural housing loans and multifamily housing initiatives.

“There is tremendous demand for affordable housing, and H.R. 3700 offers fresh opportunities for creditworthy borrowers to become homeowners when they choose to,” said Salomone. “NAR thanks Congressman Blaine Luetkemeyer, R-Mo, for introducing the bill, as well as leaders in the House for making it a priority. We look forward to working with our partners at all levels to advance this legislation in support of homeownership.”

The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.

Contact Information

Alaska Association of REALTORS®
4205 Minnesota Drive
Anchorage, Alaska 99503

Phone (907) 563-7133
FAX (907) 561-1779
Toll-Free (800) 478-3763

joinus@alaskarealtors.com