In response to Linda’s great idea for us each to share some “take away’s” from the GAR Conference with our members,

In response to Linda’s great idea for us each to share some “take away’s” from the GAR Conference with our members, I asked Moe Veissi’s speech writer (yes, he actually has a staff speech writer at NAR) to supply me with his talking points.  What I received was a combination of speeches he’s given recently to Alaska, Maryland and GAR.  So, I have taken the liberty of editing them all into the attached, which I hope will enlighten the members who weren’t able to hear Moe.  Further, I think that we all, as leaders and spokespersons for our wonderful Association, can use these points when we address the media, or sales meetings or whenever we have an opportunity. Also, I would like to video a presentation of these remarks which we can make available to Brokers and on line. Thanks

Chip Kreps, RCE

Executive Director

Moe Veissi's talking points

Accomplishments

Ø Let me update you on some of our legislative and regulatory issues.

Ø First, a couple of NAR’s accomplishments this year.

Ø It was a relatively quiet year legislatively, but NAR worked hard behind the scenes.

NFIP

Ø We were happy the President signed the bill containing the five-year reauthorization of the National Flood Insurance Program.

Ø This is an important success, but like all legislative accomplishments, it was the result of compromise. 

Ø Moving forward we expect Congress to focus on the budget deficit.

Ø Given the shortfall, we’ll have to fight hard for our goals.

VA Loan Limits

Ø We’re also pleased Congress passed, and the President signed, a bill (HR 1627) that will reinstate the higher VA loan limits through 2014.

Ø It makes the ARMs permanent and allows loan pooling

Ø This helps our servicemen and women open the door to homeownership by keeping mortgage financing affordable and accessible.

Ø It’s part of our promise to American’s veterans who have given so much to defend our freedom.

What’s Ahead

Tax Reform

Ø With the so-called fiscal cliff looming, we’re expecting Congress to undertake comprehensive tax reform in the year 2013.

Ø We’re having ongoing discussions with House leadership, and we intend to keep that going throughout the process.

Ø We’ll be pushing hard to maintain the historical tax incentives to homeownership.

Ø In particular, we do not intend to give an inch on the Mortgage Interest Deduction.

Ø A huge tax increase on the middle class during an economic recovery doesn’t sound like a great idea to me.  How about you?

Ø The mortgage interest deduction is crucial to the stability of the American housing market and the economy. And it’s something we need to protect.

Ø We hope to be as successful nationally as you’ve been here on the State level, but we’ll need to keep fighting.

GSEs

Ø NAR believes we must restructure Fannie Mae and Freddie Mac.

Ø The best way to do this is by enacting comprehensive legislation to restructure the secondary mortgage market, while continuing the federal government’s role in the secondary mortgage market.

Ø We want to see mortgage liquidity in all markets, under all economic conditions.

QRM & QM

Ø NAR is urging federal regulators to re-craft the QRM exemption to include loans with down payments of less than 20 percent.

Ø As you may know, responsible lending standards and borrower’s ability to repay have the greatest impact on reducing lender risk—not high down payments.

Ø NAR supports a QM definition that:

o   establishes strong consumer protections,

o   promotes mortgage liquidity,

o   incorporates ability-to-repay standards, and

o   offers lenders a “safe harbor” that reduces litigation exposure.

Ø Simply put, we want to protect consumers while encouraging private lenders to return to the market.

Ø NAR forged the broad-based Coalition for Sensible Housing Policy, which asked for and received an extension of the proposed regulation comment period. 

Ø We expect action on QM before the end of 2012, with QRM to follow in 2013. 

Ø We want to ensure the rules do not block access for millions of lower income, first time buyers and residents of many communities who were most impacted by the recent foreclosure and credit crises.

Mortgage Cancellation Tax Relief

Ø Mortgage cancellation relief is set to expire at the end of the year.

o   Passed in 2007, with NAR’s support, it’s already been extended once, in 2009.

o   The bill was reported from the Senate Finance Committee; now it has to pass the House and the Senate.

Ø NAR is making a strong push for another extension to ensure this “phantom-income” tax doesn’t return.

o   Given its strong bipartisan support in both houses, many members can be expected to support an extension.

o   We’re optimistic that agreement can be reached.

As a contributing member of State and Local Government Affairs,

As a contributing member of State and Local Government Affairs, I attended their meeting on Wednesday afternoon. At that meeting we discussed the following

- the rationale for the recommendation from the Executive Committee for  the vote that would be coming before the Board of Directors regarding the change to the amount of continuing education hours required for Georgia Realtors.

- the outcome of the July SPLOST vote. It only passed in the Central Savannah River, River Valley, and Heart of Georgia Altamaha areas.

- a briefing on the upcoming convention and its focus on Legislative matters. For anyone who has gone to Washington for NAR, it is going to be modeled on that convention. There will be a rally at the Capitol, after which we will be able to meet with our congressmen and women. There will be a lunch and, that evening, an RPAC Major Donors reception, to which, our Congressional leaders will be invited.

-an update on the issue of Realtor compliance with the Georgia Residential Mortgage Act (GRMA), as it relates to short sales. Our
GAR President, Bill Boatman, met with the Deputy Commissioner for the Department of Banking and Finance, Rod Carnes, to discuss his concerns with Realtors violating the Banking Commission's interpretation of the GRMA, specifically in regard to short sales. Our President's goal was to solve the dilemma with an interpretive rule change as opposed to a legislative one. After the meeting GAR counsel, Seth Weissman, provided  a draft rule to clarify the problem. Currently, we are waiting for the Department of Banking and Finance to provide any comments or suggestions to the language. If they approve of it, then we will be noticed of the change.

Monica Spillane
Immediate Past President, Savannah Board of REALTORS®
President Elect, Savannah Multi-List Corporation

As a representative for the Savannah Chapter of Women's Council of Realtors,

As a representative for the Savannah Chapter of Women's Council of Realtors, attending this conference was especially moving for me.  I took great pride in going to the City of New Orleans to promote Georgia Realtors but also to support the local economy.  I understand while planning this conference prior to the birth of Hurricane Isaac, my feelings were even stronger about going to this community in the aftermath.

As I suspected, we were met with open arms, smiling faces and large cups!  It appeared as NOLA never missed a beat from just being skirted by Hurricane Isaac.  The conference attendees from all over Georgia were equally as welcoming.  Such terrific southern hospitality, I never felt like I left home.  The courses available to the attendees were tremendous and inspiring.  The speaker for the Georgia Chapter of Women's Council of Realtors was Ryan Lowe.  He discussed his book that has already inspired me to share the message with my family and co-workers about perseverance, faith and most importantly, attitude towards life, work and family.  His book is called, "Get off your attitude" and it means just that.  When we change our attitude, we can change our life.  As President of Savannah's Chapter of WCR this year, I have learned the value of such a great organization that has allowed me to grow personally and professionally.  In an instant our lives can be changed by those people we meet and WCR has done exactly that.

I encourage anyone to learn more about your local WCR chapter to learn just how your life and business can change with something as simple as getting involved.  You and your business will thank you for making such a great choice!

Governmental Affairs Report from GAR

Governmental Affairs Report from GAR

During our GAR conference in New Orleans, I attended the following committee meetings:

Legal Action:  Seth Weissman reported to the committee on the FMLS lawsuit currently in progress.  We also discussed GAR’s advisory position in the Landings HOA lawsuit in which the HOA prevailed.

Global Alliance:  We met and discussed ways to promote local Realtors to International Groups and Georgia Government Agencies who deal with the influx of foreign clients.

Equal Opportunity/Cultural Diversity:  This workgroup discussed potential educational forums to inform our members of ways to cooperate across the cultures.

My Realtor Party:  One of the most exciting meetings was with our NAR  Director of the newly formed Realtor Party.  NAR and GAR have made a strong commitment to build the Realtor Party in Community Involvement, Housing Opportunity, Smart Growth, RPAC Fundraising, Issues Campaigns and Political Advocacy.  We will be asking our local members to become more proactive and bringing issues to SABOR which impact property rights and our business.  Also, we want to urge you to help us recognize candidates who support our efforts or even find Realtors who wish to become elected officials. 

Linda King

Vice-President of Governmental Affairs

At the GAR Convention in New Orleans

At the GAR Convention in New Orleans I was pleased to
find out the Vote we made as State Directors last year has really paid off.
Selling the Contract Forms to non-Realtors made The Georgia Association of REALTORS® over $400,000.00.
Not only will this great accomplishment helped us keep the cost of being a Georgia Real Estate Agent down, it also helps us maintain and possess what is rightfully ours.
All my Best, 2012 Pres- Elect  Donna Davis

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