Radian, Philadelphia, said after a strong finish to the first half of 2020, home prices across the United States continued to rise sharply, albeit at a slower pace in July from June.
Category: News and Trends
Unemployment Insurance Claims Jump Back Above 1 Million
Americans filing initial unemployment claims jumped back above one million for the week ending Aug. 15, the Labor Department said, suggesting a more difficult climb out of the economic hole triggered by the coronavirus pandemic.
Insurance Quotes and Coverages: A Conversation with CWCapital’s George O’Neil III and Harbor Group’s Emily Rasmussen
MBA CREF Associate Director Kelly Hamill interviewed Emily Rasmussen, Managing Director of Business Strategy with Harbor Group Consulting, and George O’Neil III, Managing Director with CW Financial Services LLC, about the insurance market during the coronavirus pandemic.
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“When contrasting the effect on home prices of negative COVID headwinds on the U.S. consumer and economy versus the trifecta of historic low mortgage rates, near record low supply of homes for sale and increased demand for homeownership, so far home prices have come out on top.”
–Steve Gaenzler, Radian Senior Vice President of Data and Analytics.
CFPB Extends Comment Period on ECOA/Reg B RFI to Dec. 1
Bowing to requests by the Mortgage Bankers Association and other industry trade groups, the Consumer Financial Protection Bureau yesterday said it will provide an additional 60 days for public comment on its Request for Information on expanding access to credit through Regulation B, which implements the Equal Credit Opportunity Act.
People in the News Aug. 20, 2020
JLL Hotels & Hospitality Group, New York named Kevin Davis a Senior Managing Director of the firm’s Americas Hotels & Hospitality Group. He will head the debt capital markets efforts for the Americas business and collaboration between the firm’s Hotels & Hospitality business and JLL’s Capital Markets Group, specifically the loan sales and financing teams.
MISMO Issues Closing Instructions Development Workgroup Call for Participants
MISMO®, the mortgage industry standards organization, issued a call for industry experts to participate in a working group to enable the digitization of closing instructions.
Leah Sommerville and Chris Lewis: RON–The Last Mile in the eClosing Marathon
As consumers make efforts to significantly limit in-person interaction, the demand for remote online notarization eClosings, which allow borrowers to join real estate closings from the comfort of and, more importantly, safety of their homes, has increased exponentially. This begs the question: Why isn’t everyone closing every loan with RON?
Andrew Foster: CMBS Market Musings
Taken together, the analysis from industry thought leaders indicates that CMBS will continue to have challenges with existing loans through 2021 as new issuance remains robust for agency MBS and at a tepid pace for conduit transactions. Challenges with maturing loans are starting as well; however, 2022 will bring a major wave of those loans.
Sponsored Content from Nomis Solutions: What Are Mortgage Shoppers Looking for in 2020 and Beyond?
For our 2020 Consumer Lending Survey eBook, we dive deep into the minds of consumers in the market for a loan in this socially distanced COVID-19 environment.