The Mortgage Bankers Association, the American Land Title Association and the National Association of Realtors have developed a model executive order for states to enable remote notarizations during coronavirus pandemic.
Category: News and Trends
Aneeza Haleem: Can You Trust AI and Your BOT Workforce to Make the Best Decisions for Your Customers?
We have successfully tackled using AI in newer areas, such as tiered contextual responses, voice recognition, biometrics and natural language processing. The fuzziness increases in emerging areas of AI use, including one where it’s especially common in mortgage banking – customer engagement using sentiment analysis and advanced contextual cues.
CFPB Issues Proposed Rule on Reg Z Escrow Exemptions
The Consumer Financial Protection Bureau on Thursday issued a notice of proposed rulemaking that would amend Regulation Z to provide a new exemption available to certain insured depository institutions and insured credit unions from the requirement to establish escrow accounts for certain higher-priced mortgage loans.
MBA Chart of the Week: Monthly Payroll Growth and Unemployment Rate
The economy added a record 4.8 million jobs to nonfarm payrolls in June, bringing the cumulative increase in May and June to one-third of the sharp decreases in March and April. Similarly, the June unemployment rate, at 11.1%, was down 3.6% from its high in April, and labor force participation jumped by 0.7% to 61.5% (1.9% below its pre-coronavirus level in February). However, we are not yet out of the woods.
Michael Steer & Erin Harris: Accelerated Digital Mortgage Tech Strategies Must Also Include Sound Vendor Management
Adherence to vendor management best practices needs to remain top of mind for lenders even when accelerating their digital mortgage tech selection and deployment process. Compliance with regulatory requirements and proper risk mitigation are not steps to be overlooked.
2Q Single-Tenant Net Lease Cap Rates Diverge
Single-tenant net lease cap rates diverged by sector in the second quarter, reported Boulder Group, Wilmette, Ill.
MBA Education Path to Diversity Scholar Profile: Candace Hargrave
(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.)
The Week Ahead
Good morning—welcome back from the holiday weekend; and congratulations! You’ve made it halfway through 2020!
Dealmaker: Bellwether Enterprise Closes $392M
Bellwether Enterprise Real Estate Capital LLC, Cleveland, closed $391.9 million in financing for industrial and manufactured housing assets across the country.
June Jobs Up Nearly 5 Million; Unemployment Rate Drops; New Claims at 1.4 Million
The Bureau of Labor Statistics reported total nonfarm payroll employment jumped by 4.8 million in June, as easing of coronavirus restrictions brought back more workers who had been laid off earlier this spring.