On Tuesday Oct 26, the Center for Regulatory Effectiveness will launch the CRE Private Transfer Fee Initiative.
Private Transfer Fees are paid each time a property is sold and are often used for community benefit programs. Private transfer fees have also been used to provide a continual source of income for developers and investors.
The Federal Home Finance Authority has proposed guidance which would abolish Private Transfer Fees for properties financed by Freddie Mac and Fannie Mae.
To facilitate public debate on this important public policy issue, CRE has established an Interactive Public Docket (IPD) on Private Transfer Fees, see http://www.thecre.com/tForum/
CRE pioneered the development of the IPD http://en.wikipedia.org/wiki/Interactive_Public_Docket . The IPD allows the public and the regulated community to present their views to federal regulators 24 hours a day, seven days a week, before, during, and after comments are offered on guidance proposed by the FHFA.
The public and the regulated community are encouraged to participate in this important debate by posting their comments on the IPD.