Field Updates

FHFA Rescinds Upfront Fees Based on DTI Ratio

May 16, 2023 1 min read

On May 10, following concerns expressed from NAR and other industry organizations, the FHFA announced that it has rescinded its proposed loan level pricing adjustment (LLPA) upfront fees

NYC Council Bill Would Delay Implementation of NYC Local Law 97

May 16, 2023 1 min read

NYC Council Member Vicky Paladino is urging support for a bipartisan bill in the NYC Council (Int. 913) that would delay the implementation of Local Law 97, which was passed in 2019.

Record Attendance at NYSAR’s 2023 Lobby Day

May 9, 2023 1 min read

A record number of REALTORS® attended this year’s NYSAR Lobby Day in Albany on Tuesday, May 2, 2023.

Final State Budget Summary

May 9, 2023 2 min read

Late Wednesday, state lawmakers approved a $229 billion state budget, nearly a month after the April 1 deadline.

Summaries of New Climate-related Laws in NYC

May 9, 2023 1 min read

Following passage of NYC Local Law 154 of 2021, the construction of certain new buildings in NYC will not be allowed to utilize fossil fuel burning systems.

NAR Urges FHFA to Eliminate LLPA Increases

May 3, 2023 1 min read

On April 26, NAR sent a letter to the Federal Housing Finance Agency (FHFA) urging for the elimination of recently announced increases in upfront fees

New York Set to Ban Gas Furnaces, Stoves in New Buildings

May 3, 2023 1 min read

Under the recently announced state budget agreement announced by Gov. Hochul, New York will require new buildings to be zero-emissions starting in 2026

Gov. Hochul Announces ‘Conceptual’ State Budget Deal

May 3, 2023 1 min read

Gov. Kathy Hochul announced late Thursday that she and Democratic leaders of the state Legislature reached a “conceptual agreement” on a $229 billion state budget

NYSAR Meets with State Lawmakers on Coop Transparency and First-time Homebuyer Program

May 3, 2023 1 min read

This week, NSYAR met with state lawmakers and staff advocating for introducing and advancing priority legislation, including bills that would help first-time homebuyers

NYSAR Pre-Lobby Day Issues Briefing Live Zoom: April 28 at 11 AM

Apr 26, 2023 1 min read

REALTORS® are invited to attend virtually NYSAR’s Pre-Lobby Day Issues Briefing Live Zoom on Friday, April 28 at 11 AM.

Reported: Major Housing Policy Removed from State Budget Negotiations

Apr 26, 2023 1 min read

Reporting has indicated that major housing policy is being removed from state budget negotiations as Gov. Kathy Hochul and state lawmakers have failed to come to an agreement

NYSAR Meets with Sen. Sanders’ Office on Coop Disclosure

Apr 26, 2023 1 min read

This week, NYSAR staff met with Sen. James Sanders’ office (D-Queens) to discuss advancing NYSAR-supported coop fairness and transparency legislation

Housing Becomes Top Issue Stalling Budget

Apr 17, 2023 1 min read

Housing appears to have become the top budget issue being negotiated between Gov. Kathy Hochul and the state Legislature surpassing bail reform talks

NYC Council Introduces Coop Transparency Bill

Apr 17, 2023 1 min read

Following NYSAR advocacy efforts, NYC Council Member Marjorie Velazquez has introduced a NYSAR-supported bill (Int. 1002) that would combat illegal discrimination

Take Action Today – “Good Cause” Eviction Still Being Considered in State Budget

Apr 11, 2023 1 min read

Legislation to impose “good cause” eviction, which would cap annual rent increases on non-owner-occupied apartments under 4 units to 3% or lower

Expected Further Delay for State Budget

Apr 10, 2023 1 min read

Governor Kathy Hochul indicated she may issue a second budget extender as the initial budget extension deadline of April 10 approaches.

NAR Forms Housing Solutions Coalition to Address National Rent Control Issues

Apr 10, 2023 1 min read

NAR recently announced the creation of the Housing Solutions Coalition, which NAR is a founding member of.

New York's State Budget Is Expected To Be Late

Apr 5, 2023 1 min read

Disagreements over changes to New York's controversial bail law and “good cause” eviction as well as how to expand housing in the state are fueling what is expected to result

State Identifies ‘Disadvantaged Communities’ to Receive Extra Climate Funding

Apr 5, 2023 1 min read

New York has finalized a list of disadvantaged communities that are mandated to receive at least 35% of the total statewide spending on clean and energy efficiency programs

Electrification Proposals Turn Focus on New Construction

Mar 29, 2023 1 min read

Gov. Kathy Hochul and state lawmakers appear to be aligned on new measures to phase out fossil fuel combustion equipment – furnaces, water heaters, dryers and stoves – in new homes