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?
Category: News and Trends
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.
Lack of Supply Hinders Housing Market’s Full Potential
Despite the housing market’s show of strength this summer amid economic turmoil sparked by the coronavirus pandemic, it has yet to reach its full potential because of ongoing supply restraints, said First American Financial Corp., Santa Ana, Calif.
Dealmaker: Phillips Realty Capital Secures $63M for Texas Multifamily
Phillips Realty Capital, Bethesda, Md., secured $63.2 million for a Class A Plano, Texas multifamily property.
CRE at a Crossroads
The coronavirus pandemic has put commercial real estate “at a crossroads,” said Yardi Matrix, Santa Barbara, Calif.
Radian: U.S. Home Prices Continue to Rise Amid Housing Imbalances
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.
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.
Quote
“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.