The Washington Report

On October 13, 2026, NAR submitted its comments to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) on the recent proposed rulemaking on the Community Reinvestment Act (CRA). The new rulemaking proposes changes to the ways banks of all sizes are evaluated on their lending and community investment activity in the areas they serve, among other changes. NAR has a robust policy supporting the spirit of the CRA and has long advocated for modernizing the program to ensure that banks are providing robust capital to their communities, especially in times of great need.

The letter asks for greater alignment between the agencies enforcing the CRA, an analysis of the effects of the modified definitions of banking size and what it means for community investment, clear public reporting and transparency in how banks are complying, strong and consistent oversight, and suggestions for ways in which banks could receive CRA credit.

NAR looks forward to working with the regulators to ensure the CRA is strengthened and solidified for years to come.

Read the letter submitted to the OCC and FDIC

On October 14, the Federal Housing Administration (FHA) published guidance allowing build-to-rent (BTR) communities to qualify for FHA-insured multifamily financing. BTR communities are rental properties made up of detached single-family homes, duplexes, or triplexes, and can include both site-built and manufactured homes. Effective immediately, these properties will be treated under the same terms as traditional multifamily rental developments, subject to specific requirements.

FHA’s multifamily programs have historically focused on developments with buildings containing four or more units, such as garden-style or mid-rise apartments. HUD describes the new policy as a response to the January executive order Stopping Wall Street from Competing with Main Street Homebuyers, which directed HUD to create narrow exceptions for BTR properties that are planned, permitted, financed and constructed as rental communities.

BTR properties are now eligible under two programs:

• Section 221(d)(4) for construction of new BTR communities
• Section 223(f) for purchasing or refinancing recently constructed BTR communities

To qualify, a community must have at least five homes on a single, contiguous site operated as one professionally managed rental property, with no privately owned homes mixed in. Individual homes or lots cannot be sold separately during the life of the insured loan, and any homeowners association rules cannot interfere with HUD requirements or the owner's control of the property. The Fair Housing Act's multifamily accessibility design and construction requirements do not apply to the individual detached homes, duplexes or triplexes, although common areas and site amenities must still meet applicable accessibility requirements.

On October 2, NAR met with the White House Office of Management and Budget (OMB) to discuss the Department of Labor's (DOL's) draft proposal that could expand access to Association Health Plans (AHPs) for real estate professionals. Joining NAR were Angela Shields, CEO of Tennessee REALTORS®; Tiffany Banks, CEO of Nevada REALTORS®; and Rick Lugg, CEO of Virginia REALTORS®. The meeting gave NAR and the state association executives another opportunity to share the REALTOR® perspective and prior experience with AHPs as the Administration reviews the proposal.

AHPs allow groups of employers to band together and offer health coverage through a trade association. Because most real estate professionals are independent contractors, federal law generally limits them to obtaining coverage through the Affordable Care Act (ACA) marketplace unless they are covered through a spouse's plan or a government program such as Medicare. In NAR's 2026 survey, 18% of members reported obtaining coverage through the ACA marketplace, while 14% reported having no health insurance. Among uninsured members, 91% cited premiums as a reason for going without coverage and 58% cited deductibles and co-pays.

For decades, NAR has advocated for affordable, high-quality health coverage options for real estate professionals. In 2018, the DOL issued a rule allowing small employers and self-employed individuals, including real estate professionals, to participate in AHPs. Several REALTOR® associations subsequently launched plans that offered comprehensive coverage comparable to ACA plans but with lower deductibles and broader provider networks. Participants saved between 5% and 50% compared to prior coverage. Those plans ultimately had to be unwound after a federal court overturned the 2018 rule. Since then, NAR has been urging Congress and the Administration to develop a new approach that expands health coverage options for real estate professionals while addressing the legal concerns identified by the court.

The OMB meeting was the latest step in NAR's broader advocacy effort. Earlier this year, NAR met with the DOL, the Department of Health and Human Services, and White House Domestic Policy Council to advocate for a new AHP rule. More information about those efforts is available in Expanding Health Coverage Options a Priority, NAR Says. NAR has also continued to pursue a legislative solution, testifying before Congress and helping to pass the NAR-supported Lower Health Care Premiums for All Americans Act (H.R. 6703) out of the House last December. NAR is urging the Senate to take up the House bill.

The DOL proposal is currently undergoing White House interagency review, which is the final step before a proposed rule can be released for public comment. Once the proposal is published, NAR and other stakeholders will have an opportunity to review and submit comments that DOL must consider before finalizing a rule. NAR expects the proposal to be released in November and will continue advocating for affordable, high-quality coverage options for real estate professionals throughout the rulemaking process.

On October 7, 2026, NAR joined 11 other real estate, mortgage, banking, and credit union organizations on a coalition letter calling for the FHFA, FHA, USDA, and VA to:

• Standardize the reconsideration of value (ROV) process,
• Align federal programs with Fannie Mae and Freddie Mac,
• Improve consumer education, and 
• Coordinate any additional requirements.

Read the letter.