Government Affairs Director Report

On Tuesday, September 30, 2008, 4:00 - 6:00 PM, at Springfield City Hall, in the Library Meeting Room a draft of the Stormwater Facilities Master Plan will be available for public comment. The plan is a public infrastructure master planning tool. It is a comprehensive look at the stormwater system to identify both existing and future needs for the city. The plan is designed to fill the needs of the City in three general areas: flood control and public safety, water quality and regulatory compliance, and guidance for development. Community residents are invited to attend the open house to provide comment on the draft plan.  Additional information and the draft plan is available by calling 726-3695 or online at http://www.ci.springfield.or.us/DEPT_PW.HTM

Some of us have been asking if NAR could use the current bank bailout situation to work to keep banks out of real estate permanently.  While Congress will likely do little other than get this bailout bill passed before they leave for the year (to work on their campaigns), NAR this week, began running ads in all of the Capitol Hill papers to that end. Go to the NAR website or this link: http://www.realtoractioncenter.com/bank_ticker2.pdf to see the latest ad to inform the public and congress how important it is to keep the big banks out of Real Estate.

Treasury Bailout
You’ve undoubtedly heard about the Department of Treasury’s $700 Billion plan to bail out Wall Street this week.  While President Bush and Treasury Secretary Henry Paulson have stated that the bailout is necessary to the stability and soundness of the US economy, many on Capitol Hill have balked at its price tag and the cost to taxpayers.  Congress continues to work on a plan that will adequately protect the taxpayer while also providing the needed actions to stabilize the markets.  Such stabilization is key to the ability of applicants obtaining mortgage loans and lenders having liquidity, and thus to the health of the housing market. To see important information on the proposals available at this time, please visit REALTOR.org at:  http://www.realtor.org/gapublic.nsf/pages/gses_conservatorship?OpenDocument.  If you have questions, please feel free to contact either Tony Hutchinson at thutchinson@realtors.org or 202-383-1120 or Jeff Lischer at jlischer@realtors.org or 202-383-1117.
 
NAR’s Broker Involvement Program
NAR is hoping that you’ve heard about the Broker Involvement Program when they introduced it this year.  Based on the “All Politics is Local” concept, they are asking brokers to get their agents more involved in the grassroots.  Much like a Call for Action (CFA) goes out from NAR, the Broker Program allows brokers to send broker-branded CFA messages to their agents, encouraging them to respond.  The results have been excellent so far, and they have seen response rates go higher than the national average.  NAR is now reaching out to the most politically active group of REALTORS®, the broker-owners, to take part?  Please consider signing up for this most important program.  If you’re not a broker-owner, you can still help!  Please ask your broker to sign your office up so that everyone in your office can be as responsive as you are to a CFA.  If you’d like more information about the Broker Involvement Program, or to sign up, please contact Ed Lawler at elawler@realtors.org or 202-383-1156, Erin Murphy at emurphy@realtors.org or 202-383-1079 or Jackie Zaporowski at jzaporowski@realtors.org or 202-383-1091.

NAR Testifies at RESPA Hearing
A short while ago, FPCs participated in a Call For Action to get Congressional House Members to sign on to a letter to HUD, urging them to reconsider their burdensome proposed RESPA rules.  Close to 240 Members of the House signed on to that letter, yet HUD is insisting on going forward to implement its new proposal.
 
The House Financial Services Committee’s Subcommittee on Oversight and Investigations held a hearing on September 16 to look into HUD’s moving forward with this ill-advised proposal.  Anthony Lindsey, FPC for Rep. Mel Watt (D-NC), testified on behalf of NAR and did a fine job representing NAR’s concerns with how the proposed rule would add burden to real estate closing procedures.  To see the press release on Anthony’s testimony, please visit REALTOR.org. 

National Flood Insurance Program Expiring
On September 30, The National Flood Insurance Program (NFIP) will expire.  Even though both the House and the Senate have passed bills (you may remember the Call for Action on H.R. 3121 last year), they’ve never come to conference to finalize the bill for the President’s signature.  In 11 days, this program will expire if Congress doesn’t do something immediately.  The effect will be further instabilities in the housing market.
 
On September 18, Rep. Barney Frank (D-MA), Chairman of the House Financial Services Committee, introduced legislation to allow for a seven-month extension of NFIP so that it doesn’t expire.  If passed, the extension will allow the House and Senate to continue to work together for a re-authorization and also assess the implications of the 2008 hurricane season.  Additional information on the NFIP is available on REALTOR.org.  If you have questions, feel free to contact Austin Perez at aperez@realtors.org or 202-383-1046.