Anthony Acevedo Anthony Acevedo

MAJOR REALTOR® PRIORITY SIGNED INTO LAW

Senate Bill 50, which contains the largest reduction to the Business Rent Tax (BRT) was signed by the governor last night. Senate Bill 50 relates to taxation. By way of background, sales tax is already required to be collected and remitted on online purchases.

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Anthony Acevedo Anthony Acevedo

Flood Insurance 2.0: Congress Updates Its Analysis

National flood insurance will undergo a seismic change for homebuyers on Oct. 1, 2021, and for existing homeowners on April 1, 2022. Under “Risk Rating 2.0,” policy rates will be individualized based on a specific home rather than a general blanket rate based on flood zones.

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Anthony Acevedo Anthony Acevedo

Senator Outlines Goals for Mortgage Reform; NAR Agrees

Government-owned Fannie Mae and Freddie Mac must be reformed, yet if done badly, it could threaten the U.S. housing market and possibly make 30-year mortgages obsolete. But a Senate Banking Committee member issued “guiding principles” that have been backed by NAR.

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Anthony Acevedo Anthony Acevedo

Mortgage ‘Flexibilities’ Extended to May – but Likely Last Time

FHFA extended mortgage-approval changes added during the pandemic – such as alternatives to appraisals and alternate methods to verify income and employment – through April 30. But the agency said that’s likely the last time it will do so, at least for some of the temporary easements.

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