2014 NAR REALTOR Party Convention

May 12 – 17
Washington, D.C.

FRAR members in attendance: Jimmy Townsend, James Sherrill, Swayn Hamlet, Queen Wheeler, Zan Monroe, Jane Cannon, Debbie McFayden, Angie Hedgepeth

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Congressional Actions and the 2014 Midterm Election:  Federal Legislative & Political Forum

Two political strategist in the country, David Plouffe and Steve Schmidt provided perspectives on the issues and congressional races going on in Washington, DC.

What Was Said: (David Plouffe)

  • The Latino vote is very important
  • D.C. government is loced down until next election
  • GSE reform, tax reform, transportation program will some action in the lame duck session
  • The window will be small in 2015 to pass any legislation
  • You will see immigration reform

What Was Said: (Steve Schmidt)

  • Politicians pick voters now due to redistricting
  • Demographic groups are gaining democrats
  • Demographic groups are loosing republicans
  • Currently there are not enough white people to get you elected
  • The Asian vote is not voting republican, they are one of the fastest growing groups in America
  • Short term – billionaires are buying the White House
  • Real estate tax revisions are important to the next election

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FHA: 80 Years and Counting:  Regulatory Issues Forum

Speakers:  Shaun Donovan, HUD Secretary, Washington DC
Carol Galante, FHA Commissioner, Washington DC

What Was Said: (Shaun Donovan)

  • The partnership with REALTORS® has been strong and thank you for the work you’ve done
  • The National Association of REALTORS® represents a critical chapter.  We can’t afford to spend time in the rearview mirror
  • 2013 was the best year for new home sales since 2006
  • Obtaining credit is now difficult, we have created a blue print for credit access and that is housing counseling, which means less delinquency by 30%.  This is a good decision for the health of FHA
  • The new program is called “HAWK” – Homeowners Armed With Knowledge
  • HAWK will provide (discounts of annual premiums, FHA working with lenders, quality assurance programs for lenders)
  • HAWK is a winner for everyone…an example is a $180.000 loan will save around $10,000 during the life of the loan
  • Johnson Crepo Bill – housing reform, we have to do a better job with housing finance reform

What Was Said: (Carol Galante)

  • Our work together has changed the face of homeownership
  • The average credit score for a mortgage is 752, 33 million have a score between 580 – 680
  • The new HAWK handbook is published for comments
  • What does it mean for REALTORS®? It means broader availability, lending more confidently, homebuyer education with counseling
  • HAWK is a 4 year pilot program that is robust with real savings
  • 20 – 30% percent will take advantage of this program
  • We are receiving feedback during the next 30 – 45 days

Sidebar:  The following link below will take you to the HAWK porthole.

http://portal.hud.gov/hudportal/documents/huddoc?id=BlueprintAcess5_9_2014.pdf

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Heard on the Hill…..

Senator Richard Burr

“The average middle class income has dropped by $3,500”
“The highest poverty rate is with women”
“People with money are having no problems”
“GSE – not there yet…needs reform”
“The average American is struggling”

 

 

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