NAR 2011 Policy Conference and Town Hall Meeting

Today, I look forward to journeying to Washington, D.C. (hopefully arriving ahead of the pending snow/ice storm) to attend the 2011 Policy Conference.  Over the next several days, NAR members and staff will be discussing, analyzing, and honing current policy positions with the Federal Political Coordinators (FPC's) that help communicate critical REALTOR® positions to members of Congress.  Each member of Congress is assigned an FPC by NAR.  With me in D.C. for this meeting will be RAMP's own Jerry Speer, who currently serves as FPC for Congressman Mike Doyle.  RAMP's local passion and interests will be well-represented at the national level! 

On Wednesday, we will take to Capitol Hill to meet with members of Congress and their legislative staff to push for support or action on our key issues.  To read more about our 2011 top policy positions at the federal level,click here.

Wells Fargo to Accept FHA Mortgages with Credit Scores Under 600

This may be helpful news for some folks . . . copying/pasting what I spied in an e-newsletter from staff at NAR this morning:

Wells Fargo announced that effective January 15, 2011, they will accept Federal Housing Administration (FHA) mortgages for borrowers with credit scores as low as 500. For borrowers with credit scores 500-579 a 10 percent downpayment is required and the downpayment may not be a gift or be part of a downpayment assistance program. For borrowers with credit scores 580-599 a 5 percent downpayment is required and the downpayment may not be a gift or be part of a downpayment assistance program. Borrowers with a credit score of 600 or higher are required to have a 3.5 percent downpayment and a gift is acceptable. For all borrowers, seller concessions are limited to 3 percent. 

RAMP leaders head to PAR Business Meetings.

REALTORS® from all over Pennsylvania will be gathered in Harrisburg from January 24-26th for the PAR Business Meetings. Among the issues the PAR Directors will be considering is a Property Tax Assessment Reform Policy Statement. Other hot issues include our push for a prohibition on private transfer fees, and legislation regulating appraisal management companies. RAMP is represented for 2011 by the following PAR directors:

• R. Kevin Brown, Jr.
• Shirley Boyd McNamara CRB GRI
• Ruthanne Belus ABR SRES
• Robina “Bebe” English
• Robert Freeman
• Suzanne Gruneberg ABR CRS GRI SRES
• Anthony Cimino
• David Dean
• Carol Palomera CRB GRI
• Ronald F. Croushore, CRB
• Jerry Y. Speer, CPM®
• Richard J. Stampahar, CPM®
• Janice Smarto, ABR CRBCRS GRI LTG

New at NAR

On the horizon for 2011

RAMP Government Affairs has a full plate as we ease our way into this New Year.  As a member of RAMP, you receive Government Affairs coverage on three levels (local, state, and federal).  Here's a preview of issues we will be weighing in on and keeping you apprised of during 2011:   LOCAL Reassessment: We will be bringing you the latest information on the Allegheny County reassessment process.  It is anticipated that property owners will be notified of the updated values  in Fall 2011, with the adjustments in taxes occurring in 2012.  For the Data Field Review FAQ's: click here. The Allegheny County Office of Property Assessment has posted links to 2011 appeal forms in the meantime, which you can access byclicking here. Local County Council Races:  If you thought 2010 was a hot political year, get ready for some local excitement.  Nine of the fifteen Allegheny County Council seats will be up for re-election, in the same year as the Reas ...

Read the rest of entry »