Good morning! Welcome to another Monday, Week 10 of the Coronapacolypse. To all of you out there: thank you again for what you are doing. Stay healthy and safe.
Category: News and Trends
MBA Advocacy Update
MBA continues to advocate for the industry to help MBA members address the financing needs of their customers during the ongoing pandemic, and will provide updates as they become available. Several updates pertaining to COVID-19, along with other industry activities, are included in this week’s communication.
MBA Chart of the Week: Payroll Employment Changes
This week’s MBA Chart of the Week focuses on Friday’s grave employment report from the Bureau of Labor Statistics. The COVID-19 crisis has hit employment and household income in an unprecedented and accelerated fashion.
Labor Dept. Reports 20.5 Million April Job Losses; Unemployment Rate Jumps to 14.7%
One of the worst weeks in U.S. economic history ended Friday with the Bureau of Labor Statistics reporting a staggering 20.5 million jobs lost in April and the unemployment rate jumping to its highest level since the Great Depression.
MBA Education Path to Diversity Scholar Profile: Jina Choi
Jina Choi is Vice President of Enterprise Innovation with loandepot.com
Scott Roller: Remote Online Notarization – Navigating the Icebergs
Necessity is the mother of all invention, so the saying goes. No, not exactly true here. RON was already being deployed in pockets across the industry pre-coronavirus. Therefore, its more appropriate to proclaim, “perplexing problems produce instant popularity where past procrastination persisted.” Said more plainly – nothing is more white-hot than RON right now, and everyone suddenly cannot live without it. Demand far-outstrips supply by a factor too large to contemplate.
Matt Clarke: How Technology Can Enhance Borrower’s Experience by Supporting Lender
As the industry becomes increasingly digital, mortgage professionals must find a way to survive and keep up with demand at rapid speed. Unfortunately, the latest and greatest technology comes at a price. To truly succeed, mortgage professionals need to determine strategies that reduce expenses while offering a convenient relationship-based mortgage experience for borrowers.
MBA Premier Member Profile: DataVerify
(One in a continuing series of profiles of Premier Members of the Mortgage Bankers Association.)
MBA May 19 Online State of the Industry Conference Adapts to a Changing World
There is nothing quite like attending a Mortgage Bankers Association conference in person. But with the entire country still dealing with the effects of the coronavirus pandemic, that on-site experience—for now—has to give way to the safety of your home. And MBA says it’s ready for you.
Pandemic Slows Real Estate Market
Clever Real Estate, St. Louis, Mo., found a slowing real estate market as homeowners planning to sell begin to pull homes off the market and potential buyers start holding off due to the pandemic.