|
About Us Raleigh Regional
|
March 16 , 2010 The Inside Scoop – By Tara Lightner REALTORS®: This newsletter is designed to provide you with an update of important real estate issues and political activities. It will be emailed to REALTOR® members monthly, and can also be accessed at http://www.trianglemls.com/rrar-government.html
Friday, August 13th is RPAC SummerFest 2010: A Shaggin Good Time. Mark your calendars for our annual fundraiser. This year will hold our own RRAR state fair complete with games for young and old, and a Shaggin Contest for those of you who think you can shag! The outdoor event will take place in our parking lot area from 5 until 9 pm. Federal Short Sale Guidelines Go Into Effect April 5th Under the HAFA (Home Affordable Foreclosure Alternative) program, loan servicers will have to have processes in place to comply with the new guidelines. The guidelines require uniform processes, uniform forms and deadlines. Services will have to establish a value for the property, so that sellers will know what they need to list their property for. Once the seller receives an offer they have three days to submit the RASS form “Request for Approval of Short Sale” to the servicer. There then is a 10 day deadline within servicer must respond to seller. Any servicer who has signed up for the Home Affordable Modification Program (HAMP) are required to comply with HAFA. The servicers also have to make a determination whether they can keep the seller in the home through mortgage modification. For more details on HAFA, visit: http://raleigh.craigslist.org/fuo/1625368410.html and listen to the 8 minute video produced by NAR. Upcoming GAC Meetings: Election Update: Soft Money Contributions Limit Lifted: See attached report from the Public Affairs Council. Also, hear what this means for trade associations, like the NAR and the state and local associations, by NAR chief legal counsel, Ralph Holman. http://www.realtor.org/letterlw.nsf/pages/legalaffairspodcast?OpenDocument&Login Bill to License and Regulate Appraisal Management Companies (AMCs) likely to move State Senate Bill 829, introduced by Senator Clark Jenkins of Tarboro in 2009 is designed to provide some oversight of the Appraisal Management companies that are now doing many of the appraisals for real estate transactions in NC. The bill was introduced in 2009, with a companion bill in the House in order to provide for movement in this (short) session of the general assembly. Proponents of the bill say that it is time that the banks, which own the AMCs, have some oversight and uniformity with which to conduct business. The bill requires the registration of AMCs, provides that the NC Appraisal Board will adopt rules and provide regulatory oversight of the AMCs, and provides for timely payment of appraisers along with other requirements. The banks are the only opponents of the bill, which has been in progress for some time. For a copy of the bill,visit: http://www.ncleg.net/gascripts/BillLookUp/BillLookUp.pl?Session=2009&BillID=S829&submitButton=Go Wake County Economic Update: The Good, the Bad and the
Ugly On Site: 3/16/2010
|
|
