Some tidbits Lobbyists Say Realtor need to know - I Say NAR needs to Sit Down and Shut up.. and Stop throwing their CLOUT around..
Fighting Fannie/Freddie’s Declining Markets Policies
MORe staff worked closely with NAR Financial Services Manager Jeff Lischer earlier this month urging an NAR response to several recent policies enacted by Fannie/Freddie. Policies which, when taken as a whole, are crippling our local marketplace. Today, NAR released the following statement in a Government Affairs Directors newsletter. MORe will continue to advocate on your behalf to roll back Fannie/Freddie policies to encourage a healthy housing market.
NAR RAISES CONCERNS ABOUT FANNIE AND FREDDIE POLICIES
On April 11, 2008,
REALTORS® think there has been an overreaction by the GSEs and others in the housing finance industry that, even in the short term and certainly in the long term, will cause harm to the organizations involved by delaying recovery of the housing and mortgage markets.
Many small individual policy decisions designed to keep the enterprises financially sound, when layered one upon another, have created major impediments to healthy mortgage and housing markets.
The letters address three main areas of concern:
1. A wide variety of higher fees and other underwriting standards that make mortgages much less affordable.
2. Policies reducing maximum loan-to-value ratios (LTVs) by five percentage points for homes in declining markets.
3. Extremely tight underwriting standards for jumbo conforming loans authorized by the Economic Stimulus Act.
To view the NAR Letter to Fannie Mae, please click here: http://fedistrk.nsf/files/Letter_Fannie_Policies_ 04112008.pdf/ $FILE/Letter_Fannie_Policies_ 04112008.pdf
To view the NAR Letter to Freddie Mac, please click here:
http://fedistrk.nsf/files/Letter_Freddie_Policies_ 04112008.pdf/
$FILE/Letter_Freddie_Policies_ 04112008.pdf
Get NAR out of your Business, out of your Governing Bodies... Sell without an NAR member.. they are NOT of a Higher Standard, They are NOT really the voice of Real Estate. They are just bullys with billions.
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In my Home State, I see that the Governing Affairs members from my local MLS are for ONE I know for sure is a Liar, committs fraud on consumers and does not have any accountability, the MLS - the local association protects him as he owns a C21 Franchise.. and this is the kind of guy that is out there supposedly getting things done for consumers or on behalf of any sense of morals and decency - Ethics or Standards of Practice of any Kind.
