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FHA Mortgage Insurance Premium Talking Points

In response to several requests from state and local association partners NAR Government Affairs has put together a set of talking points for you to use to prepare members for any questions. NAR has sent a letter to the Secretary Designate, Dr. Ben Carson opposing the suspension of the 25 basis point reduction of the FHA Annual Mortgage Insurance Premium.
You can view and download the letter using this link: http://narfocus.com/billdatabase/clientfiles/172/3/2822.pdf

What You Need to Know About FHA Mortgage Insurance Premium Rates
Impact on Homebuyers
• Trump administration has suspended the Federal Housing Administration's (FHA) 25 basis point reduction of the FHA Annual Mortgage Insurance Premium rates for mortgages with a closing/disbursement date on or after January 27, 2017.
• FHA occupies a critical role in the nation's housing finance system, with a mission to ensure access to mortgage credit is available to all Americans, in particular groups traditionally underserved by the private market, including low to moderate-income, minority, and first-time homebuyers.
• The National Association of REALTORS® estimates that the premium reduction would have reduced costs for 750,000 to 850,000 homebuyers in 2017 with mortgages backed by the FHA.
• An additional 30,000 to 40,000 homebuyers are now shut out.
• The suspension of the premium reduction has created uncertainty and confusion for a significant number of borrowers, sellers, lenders and underwriters.
• Borrowers must face an increase in the cost of their loans and some may no longer qualify to purchase the home they intended to buy due to the increase in the premium rates.
Impact on FHA
• Suspending the premium reduction has consequences for the business of FHA.
• The last FHA premium cut helped to shore up the FHA's books and restore the Mutual Mortgage Insurance Fund's (MMIF) capital ratio above the statutory 2.0 percent level.
• Lower fees helped FHA to retain better borrowers from refinancing to private mortgage insurers who had re-entered the market, but more importantly, it helped to improve affordability allowing many previously sidelined borrowers to qualify for a home purchase.
• The 2016 FHA Actuarial reports showed that the MMIF exceeded the 2.0 percent statutory requirement for a second year in a row.
• The forward FHA portfolio ratio was a healthy 3.28 percent.
What needs to be done:
• NAR urges FHA to reinstate the 25 basis point premium reduction and remove the life of loan premium as soon as possible.
• Homeownership is a key element of the American Dream and FHA makes that dream possible for millions of Americans.
• We look forward to working with this Administration to ensure FHA's continued health and necessary participation in the housing market.

 

LEADERSHIP NKAR 2017

           

Recognizing that leadership development is an essential element in the process of improving our Association and profession, the Northern Kentucky Association of REALTORS® presents LeadershipNKAR. Through this program, NKAR identifies emerging REALTOR® leaders in our Association, encourages them with motivational activities and assists in sharpening their leadership skills with the hope they will have a strong influence on Northern Kentucky’s REALTOR® organization and profession. The participants work together in a training program which combines individual study, group sessions, and actual project experience in using leadership skills. Training sessions include identification of leadership skills, team-building exercises, goal setting, personal profile analysis, network building and improving communication skills.

Deadline to apply DEC. 31st View application

2017 Forecast General Membership Meeting

                                   gmm

Breakfast at 8:30a.m and Panel Discussion with County Judge Executives from Boone, Kenton, Campbell and Grant County on their 2017 forecast for County improvements that impact your daily business and the lives of your clients, followed by a Legislative Update from KAR and our State Legislators.

RSVP BY DEC. 8TH 

Register Here 

REALTOR® PARTY Campaign Results

While it’s true that the 2016 election is over, don’t get too relaxed.  The REALTOR® Party never stops working!  

This year, the REALTOR® Party was involved in a record number of campaigns more than 400 state and local candidate elections and 458 congressional races.  In addition, we made our voices heard on local ballot issues ranging from transfer taxes to land use initiatives.  

We won 75% of the races we supported so far. On Nov. 8, we elected 34 REALTORS® to public office…and counting! 100% of REALTOR® Party Champions receiving President’s Circle support from REALTORS across the country won their races.

Unlike many special interest groups, the REALTOR® Party is there after the election.  Once our champions are elected and even if they aren’t we continue to work in our communities, our states and in the nation’s capital to make our voices heard. That’s because the REALTOR® Party is about so much more than politics. It’s about community involvement, smart growth, reaching out to diverse cultures and expanding both rental housing and homeownership opportunities across America.  

We need your involvement and participation to take our grassroots involvement to the next level and to raise our collective voice above the political noise surrounding us. We ask you to be revolutionary in fighting for our industry, for homeowners and for property investors. Whatever you did to support the REALTOR® Party this year, step it up a notch in 2017. 

Our results were impressive, and we hope you’ll check them out

View REALTOR® PARTY election results

View the REALTOR® PARTY post election webcast