Department of Commerce Issues Privacy Report
On December 16, the Department of Commerce issued a report on commercial data privacy—demonstrating increased government focus on the issue of data usage by businesses. The report calls on industry to create voluntary self-regulatory programs that incorporate fair information practice principles. The report also recommends the establishment of a commercial data privacy office within the Department of Commerce that could serve as a hub for self-regulatory efforts.
NAR has developed a Data Security and Privacy toolkit to help members assess and manage their use of consumer data
Freddie Mac Trims Commissions for Some REOs
On December 14, 2010, Freddie Mac advised its HomeSteps Listing Brokers about some reductions in the commissions it will pay for properties owned by Freddie Mac (referred to as REOs) and listed with a real estate broker on or after January 1, 2011. Freddie Mac advised that it was making reductions to reduce expenses.
VA Loan Limits for 2011 Released
The US Department of Veterans Affairs (VA) announced the 2011 loan limits for the Loan Guaranty Home Loan Program. The new limits begin January 1, 2011, and run through September 30, 2011.
For more on all these stories go to NAR link:
http://www.realtor.org/fedistrk.nsf/pages/wk12202010?OpenDocument#report_8_12_20_2010
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