NAR Welcomes FHFA’s Cancellation of August 1 LLPA Fee Increase

Thursday, May 11th, 2023

WASHINGTON (May 10, 2023) – This afternoon, following significant urging from the National Association of REALTORS®, the Federal Housing Finance Agency (FHFA) rescinded its proposed loan level pricing adjustment (LLPA) upfront fee on borrowers with debt-to-income ratios greater than 40 percent that was slated to go into effect August 1st. In the wake of this announcement, NAR President Kenny Parcell issued the following statement:

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NAR Litigation Update on DOJ Case

Monday, March 27th, 2023

On March 25, 2023, the Department of Justice (DOJ) filed a notice of appeal in an appellate court seeking to overturn the federal judge’s original decision from January ruling that the DOJ cannot go back on its previous agreement with NAR. This filing was expected and it will take time before the litigation is fully resolved. Regardless of the DOJ’s appeal, we remain confident in our position and that we will ultimately prevail. As stated in the court’s original decision “…not setting aside the CID at issue would deprive NAR of the benefit for which it bargained: the closure of the Antitrust Division’s investigation into its Participation Rule and Clear Cooperation Policy. The government, like any party, must be held to the terms of its settlement agreements…“

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