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Action Center

The action center is where information about legislative actions around the country are gathered and posted for the benefit of all members. In many cases, what starts in one state or city may spread to others. Here you will see who is challenged with some aspect of regulations related to property management. Call them for their experience about how they may or may not have defeated the legislation, or compromised in its passage. 

Current bills and call to actions have been grouped by region for easy of reading. Simply use the menu on the left to navigate.

Nationwide

FHFA REO Initiative

FHFA has announced the first property sales through its pilot REO Initiative targeting metropolitan areas especially hard hit by foreclosures. The areas included in the pilot program are Atlanta, Chicago, Las Vegas, Los Angeles, Phoenix, and parts of Florida. Pre-qualified investors are allowed to purchase pools of foreclosed property with a requirement to rent the properties for a specified number of years. The objective of the program is to address current and future levels of REO inventory and help stabilize the housing markets and minimize the impact of foreclosed properties.  It is unclear what effect this program will have on rental markets in the targeted areas. The program was first announced in August of 2011 with pre-qualification and sales first taking place in February.

Updates and Additional Information

Repeal New 1099 Requirements

Congress has recently passed legislation that created two new overly-burdensome 1099 requirements for landlords and property managers. The following document provides some background on these issues, additional resources for more information, and talking points that you can use when meeting with your local members of Congress.  Help to protect your clients and your business by taking a moment to read through this information and contacting your representatives. 1099 Requirements Talking Points

Updates and Additional Information

H.R. 3221

The passage of this legislation will assist an estimated 400,000 homeowners facing foreclosure by allowing these owners to refinance their current home loans with a Federal Housing Administration (FHA) back loan.

Washington, DC — On July 23, 2008, The U.S. House of Representatives passed H.R. 3221, one of the most important housing reforms in decades, by a vote of 272 to 152. The bill, the American Housing Rescue and Foreclosure Prevention Act, represents the most comprehensive response yet to the American mortgage crisis, and will help families facing foreclosure keep their homes, help other families avoid foreclosures in the future, and help the recovery of communities harmed by empty homes caught in the foreclosure process.

H.R. 3221 will also shore up the housing market and ensure the availability of affordable home loans, strengthen neighborhoods hardest hit by the foreclosure crisis by providing resources to allow cities and states to buy up and rehabilitate foreclosed properties, expands homeownership opportunities for veterans and helps returning soldiers avoid foreclosure and stay in their home, provides tax breaks to spur home buying; and creates an Affordable Housing Trust Fund to boost the nation's stock of affordable rental housing in both rural and urban areas for low and very low-income individuals and families.

NARPM® Files Brief in US Supreme Court

The NARPM® Governmental Affairs Committee has been involved in filing a Brief of Amicus Curiae in Glenmont Hills Associates Privacy World at Glenmont Metro Center vs. Montgomery County, MD to the US Supreme Court. This is a case that concerns "source of income" being classified as a protected class and thus forcing the Landlords to participate involuntarily in the Housing Choice Voucher Program (HCVP) which is often referred to as Section 8, specifically in Montgomery Count, MD. It has implications nationwide. NARPM®, along with several other national real estate organizations, has agreed to participate by filing a brief stating our reasons for opposing mandatory participation. The various briefs were filed in early June 2008 and delivered to the Supreme Court. It is now up to the Supreme Court as to whether they will hear the case or not. This decision could be made later this month or it may be postponed until the October 2008 Court Session. If you have any questions or comments e-mail govtaffairschair@narpm.org.