Page 78 - NAR 2020 Opportunity Race Program Resource Book

ISSUE BULLETS
33. Preventing Excessive Guarantee Fee Increases: When the federal government wanted to increase fees for home buyers in order to fund other government programs, [JOHN] said no. [He/She] led the fight to protect middle-class home buyers and stop government waste.
34. Streamlining Short Sales: [JOHN] supported bipartisan legislation that requires banks to respond to short sale offers and work with sellers in a timely manner.
35. TILA-RESPA Integrated Disclosure: [JOHN] understands the importance of protecting consumers and promoting transparency while ensuring that new mortgage disclosure regulations do not needlessly delay transactions.
36. Fighting Mandatory Down Payment Minimums (QRM): When some Washington bureaucrats wanted to require a 20% down payment for all conventional loans to fit new mortgage standards, [JOHN] stopped this harmful regulation, which would have left homeownership out of reach for many first-time home buyers.
37. Responsibly Expanding Mortgage Credit: [JOHN] supports expanding credit to millions of hardworking potential home buyers without sacrificing credit standards by introducing innovation and market competition into the credit scoring system used by Fannie Mae and Freddie Mac.
38. Refinancing of Student Loans: [JOHN] understands that student loans represent a significant burden to the next generation of home buyers. That’s why [he/she] supported legislation to allow borrowers of federally backed student loans to refinance to take advantage of lower interest rates.
39. Safe Banking for Marijuana-Related Businesses: The disparity between state and federal laws regarding cannabis is complicated and limits the financial options for legitimate cannabis-related businesses. [JOHN] understands that and supports legislation that would allow national financial institutions to work with the cannabis industry.
40. Reducing Home Buying Costs: [JOHN] understands the affordability challenges many homeowners face. That’s why [he/she] supported legislation that would lower mortgage premium insurance for home buyers who participate in financial literacy training.
41. VA Loan Program: [JOHN] understands the challenges many vets and enlisted military members face when looking to purchase a home in the current market. That’s why [he/she] supported legislation that increased the VA home loan limit to be more competitive in the market.
42. Financial Literacy: [JOHN] saw an opportunity for first-time home buyers to gain a greater understanding of mortgage and homeownership responsibilities while improving housing affordability. That is why [he/she] supported HR 2162, which will help first-time buyers lower their FHA mortgage insurance premiums after completing an approved counseling program.
PRIVATE PROPERTY RIGHTS:
43. Safeguarding Private Property Rights: [JOHN] will continue to work to strike a balance between reasonable environmental protection and our private property rights.
2020 NAR OPPORTUNITY RACE PROGRAM RESOURCE BOOK ISSUE BULLETS
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