Real Estate

The Federal Housing Finance Agency (FHFA) granted Fannie Mae and Freddie Mac permission to place an adverse market fee on mortgage refinance acquisitions. The fee was scheduled to take effect September 1, 2020 but has now been delayed to December 1st.

The Federal Housing Finance Agency (FHFA) announced conforming loan limits for Fannie Mae and Freddie Mac for 2020.

The Illinois Real Estate License Act of 2000 (RELA) was amended and signed into law on August 9. 2019. The new law expands the definition of "broker" to include wholesaling.

The National Association of Realtors (NAR) voted to bar realtors and brokers from keeping listings off the multiple listing services (MLS). The policy becomes effective on January 1, 2020. Although its implementation has been delayed until May 1, 2020.