Gary Rogers, ABR, CRS 2014 NAR Regional Vice President, Region 1 [email protected]  The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1 million members, including NAR’s institutes, societies and councils, involved in all aspects of the residential and commercial real estate industries.  Advocacy is the major tool ◦ RPAC is one of the largest, most respected because we are bipartisan and issues-based. ◦ Protect private property rights. ◦ Lobby for fair lending practices and programs. ◦ Help make the dream of homeownership a reality, a better world through community programs, including the Smart Growth and Housing Opportunity programs. ◦ Be the voice for real estate and a resource for governments at all levels on legislation.  For over 100 years, we have been the leaders and innovators in the real estate industry. We ARE the industry. ◦ 1908- First COE in response to bad behaviors in the industry. ◦ Helped create the long-term low interest rate mortgage system which helped stabilize home ownership during the Depression. The FHA loan was born. Within a few years, over 25% of all loans were FHA. ◦ 1944- Helped create Servicemen’s Readjustment Act also known as the GI Bill and the VA loan was born. Still a valuable tool today. ◦ 1963- NAR created a controversial Property Owner’s Bill of Rights, which asserted that ALL Americans were entitled to homeownership regardless of race, color or creed.   Those are just some of the milestones of how Realtors have helped shape the industry and the nation. Today, we work on many issues that affect homeownership that have a direct effect on how you make a living. Here are some of the issues we are currently working on:            Commercial Finance Issues Basel Capital Standards for Banks and Thrifts Commercial Real Estate Lending Forced Access Insurance-Surplus Lines Lease Accounting Mark-to-Market Real Estate Mortgage Investment Conduits (REMIC) SBA Loans Tenants in Common Terrorism Insurance Environmental and Property Rights Issues Clean Water Act Endangered Species Act Eminent Domain and Private Property Rights Energy Efficiency Lead Paint National Flood Insurance Program Natural Disaster Policy Unmanned Aerial Vehicles (Drones) Fair Housing Accessibility Fair Housing Act Disparate Impact Federal Housing Programs Condominiums FHA Programs (Federal Housing Administration) (includes loan limits) Multifamily Housing Development & Insurance Rural Housing Programs Section 8 Voucher Reform Valuation Issues Update Veterans Affairs Federal Tax Issues Brownfields (Tax Deduction) Capital Gains Capital Gains—Carried Interests Capital Gains Exclusion on Sale of Principal Residence Depreciation—General Depreciation—Tenant Improvements Estate Tax Reform Independent Contractor Internet Sales Tax Fairness Internet Tax Moratorium Section 1031 Like-Kind Exchange Mortgage Debt Cancellation Relief                 Mortgage Interest Deduction Tax Reform Financial and Credit Issues Affiliate Marketing Regulations Basel Capital Standards for Banks and Thrifts Condominium Approvals Credit Policy Government-Sponsored Enterprises Identity Theft Red Flags and Address Discrepancies Money Laundering/Terrorism Financing Mortgage Assistance Relief Services (MARS) Rule Mortgage Loan Limits Qualified Mortgage (QM) Qualified Residential Mortgage (QRM) and Risk Retention SBA Loans Seller Financing Short Sales Foreclosures Foreclosures Immigration Issues Visa—Investors Visa—Tourism and Retirement Visa—Seasonal Workers Insurance Issues Health Care Reform Insurance-Surplus Lines National Flood Insurance Program Terrorism Insurance Tort Reform—Class Action Real Estate Transaction Procedures and Fees Real Estate Settlement Procedures Act (RESPA) RESPA-TILA Harmonization Real Estate Transfer Tax Right of Ownership Eminent Domain and Private Property Rights Technology Issues Broadband Access Data Privacy and Security FCC Do Not Fax Rule Net Neutrality Patent Litigation Reform Telemarketing/Cold-calling Spam Email Copyright/Trademark Transportation Issues Transportation Reauthorization Funding  Most active issues this year: ◦ ◦ ◦ ◦ Mortgage interest deductions Flood Insurance-National Flood Insurance Program Drones FHA changes  Prepayment penalties ◦ Patent trolls-Patent Litigation Reform ◦ Money laundering  Homeland security combined with influx of foreign investment ◦ Eminent Domain ◦ Credit policies- availability off credit affecting markets, 1st time buyers ◦ Insurance underwriting- Using credit to estimate insurance costs. ◦ Independent Contractor status. Monell vs housepads ◦ Capital Gains- Primary residence exclusion amounts       NAR as well as your state and local associations are involved in this work. Great opportunity for you to get involved. Good for business when your clients feel you are knowledgeable. Visit Capitol Hill and your local reps. Grants available for community improvements. If you have any questions on the work being done or want to get involved, please let me know.