With the onset of the COVID-19 pandemic in the U.S. in early March, the better portion of 2020 has been devoted to adjusting to the “new normal.” Although expectations are high that a vaccine will be readily available by the year’s end, the situation is complex and defies a neat solution. Therefore, as leaders we need to think about how to prepare for what 2021 might hold.
Category: News and Trends
Employment Report: Progress, ‘But a Long Way to Go’
Total nonfarm payroll employment rose by 1.4 million in August, while the unemployment rate fell to 8.4 percent, the U.S. Bureau of Labor Statistics reported Friday.
MBA Advocacy Update Sept. 8, 2020
Last week, the White House announced that the Department of Health and Human Services and the Centers for Disease Control and Prevention declared a health emergency due to COVID-19, requiring a halt to evictions for renters through December 31.
The Week Ahead
Post-Labor Day has special significance this year. Besides serving as the unofficial start of fall (the “official” start is Sept. 21), it also marks the beginning of the home stretch of a most “colorful” and exhausting 2020 election campaign.
JLL: ‘Passive’ Investment Growth Could Boost Private Real Estate Market
JLL, Chicago, said increased passive investment into public real estate investment trusts could drive a new wave of capital into private real estate markets.
Dealmaker: Cushman & Wakefield Arranges $287M in Property Sales
Cushman & Wakefield arranged property sales totaling $286.6 million in metro Atlanta and the Washington, D.C. area.
MBA Chart of the Week: Independent Mortgage Bank Median Productivity
MBA last week released its latest Quarterly Performance Report for the second quarter. The report showed a record-high average for net production profit of 167 bps ($4,548 per loan), as well as record-high average origination volume of $1.02 billion per company.
John Russo: How Loan Officers Can Underwrite Their Own Success
Whether relatively new to the industry or a seasoned mortgage professional, there are some key aspects today’s LOs must consider when searching for a new workplace. In many ways, it is to their benefit to approach it as they would a new potential borrower, as if they were underwriting the company.
MBA Education Path to Diversity Scholar Profile: Austin Miller
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Quote
“The fate of the labor market will determine the pace of economic recovery. One thing this month’s job report made clear is that permanent economic damage continued to increase, as the number of permanent job losses increased from 1.5 million in March to 3.4 million in August. Companies are starting to make more permanent staffing changes as the pandemic lingers. The increase in permanent job losses points to longer-term unemployment and prolonged economic recovery.”
–Odeta Kushi, Deputy Chief Economist with First American Financial Corp., Santa Ana, Calif.