Appraisal Changes Coming for Fannie Mae Loans

Appraisers will be required to use American National Standards Institute – or ANSI – Measuring Standard for measuring, calculating and reporting gross living area and non-GLA areas of properties requiring interior and exterior inspections on loans sold to Fannie Mae.

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NAR Adopts Changes to MLS Policy

The changes ensure disclosure of compensation offered to buyer agents, ensure listings are not excluded from search results based on the amount of compensation offered to buyer agents and reinforce that buyer brokers do not represent their services as free. The changes take effect Jan. 1, 2022.

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Earn Fair Housing CE at Triple Play

The Triple Play Realtor® Convention and Trade Expo will offer several three-hour fair housing courses, which are approved for required Pennsylvania CE, in addition to other Pennsylvania-approved CE.

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What to Expect with New Flood Insurance Rates

Flood insurance rates through the National Flood Insurance Program are changing beginning Oct. 1 as the new Risk Rating 2.0 is implemented. All new policies will be rated with RR 2.0 as of Oct. 1, and current policies will reflect the RR 2.0 rate as of April 1, 2022. “Some properties in Pennsylvania will see increases, some will see decreases and others will remain the same,” according to Maggie Dunn, outreach coordinator for the Mitigation Division at Federal Emergency Management Agency Region 3, which includes Pennsylvania, Delaware, District of Columbia, Maryland, Virginia and West Virginia.

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Bucks County Uses NAR Grant to Help Homeowners Impacted by Recent Flash Flooding

Six to 10 inches of rain fell in less than four hours in Bucks County, causing a “100-year flooding” of the Neshaminy Creek, which runs through Bensalem Township, Bristol borough and Bristol Township. The flooding emergency closed many roadways and required emergency evacuations of dozens of residents in several communities. More than 800 families suffered loss or damage to their homes due to this flooding and many of the homes in this area did not have flood insurance because they aren’t located in a flood zone.

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Fair Housing Discrimination Based on Disabilities Still a Frequent Complaint in Pennsylvania

The Fair Housing Act prohibits housing providers from discriminating against people with disabilities, including refusing to make reasonable accommodations in policies or practices when such accommodations may be necessary to provide persons with disabilities an equal opportunity to use or enjoy a dwelling. This includes permitting persons with disabilities to have service animals or assistance animals. Housing providers may not prohibit people with disabilities from having assistance animals that perform work or tasks or that provide disability-related emotional support.

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