HUD accuses NAR of ‘misguided advice’ in letter to agents 

This week in Washington, D.C., the National Association of Realtors issued a response after HUD accused the trade organization of giving real estate agents "misguided advice."

HUD has also rescinded an energy mandate implemented during former President Joe Biden's administration. And that DOJ investigation into Federal Reserve Chair Jerome Powell? It might not be over after all.

HUD rebukes NAR in pointed letter

In an April 24 letter to real estate professionals, HUD sought to clarify "the proper understanding of steering as a form of intentional discrimination under the Fair Housing Act." Agents do not violate the law "merely by discussing with prospective homebuyers or renters the prevalence of crime or the quality of schools in neighborhoods," the letter stated.

HUD accused NAR of creating confusion about the law by "imposing a professional gag order," citing examples of NAR guidance recommending that agents avoid offering opinions on crime rates and school quality and instead direct clients to school websites. HUD suggested NAR's guidance changed after a memorandum was issued during the Biden administration, which President Donald Trump later tossed.

"This misguided advice is the product of 'disparate impact' theory, which threatens civil rights liability without any showing of differential treatment or discriminatory intent," the letter said.

NAR responded to the letter in an April 29 blog post, stating that its "guidance on crime data and school quality has been consistent for decades."

"Since the 1980s, NAR guidance has encouraged members to share objective, factual information about schools and crime, provided by a reliable third-party source," the post said. "At the same time, NAR has advised caution about the way these topics are discussed."

HUD, USDA scrap 'overly burdensome' energy rules

On April 28, HUD and the U.S. Department of Agriculture rescinded Biden-era building code requirements that the departments said "added at least $20,000 to the cost of home construction."

The former policy required all new home construction projects to meet the 2021 International Energy Conservation Code requirements. Those that didn't were not eligible for FHA or USDA-backed mortgages, according to HUD.

The National Association of Home Builders (NAHB) applauded the decision to nix the "overly burdensome" policy, which Chairman Bill Owens said "threatened to deepen the nation's housing affordability crisis."

"By repealing this onerous mandate, the Trump administration is making it easier for builders to construct more housing supply at an attainable price for Americans," Owens added.

Threat of investigation still hanging over outgoing Fed chair

Though the DOJ officially dropped its probe into Powell, U.S. Attorney for the District of Columbia Jeanine Pirro isn't done fighting just yet.

Pirro, who said last week that she "will not hesitate to restart a criminal investigation should the facts warrant doing so," told Fox News on April 30 that she intends to appeal a federal judge's decision quashing the subpoenas her office served early in its investigation.

"We've got to appeal that decision — and we will appeal that decision," Pirro said. She has until May 4 to do so.

Meanwhile, Powell's likely successor is widely expected to be confirmed soon. The Senate Banking Committee voted along party lines this week to advance Kevin Warsh's nomination to a full Senate vote.

GOP Sen. Tim Scott of South Carolina, the committee chairman, told Fox Business that a vote will likely occur "within the first two weeks" of May.