As a compliance officer, I have always recognized that change is constant, and I accept that fact sometimes grudgingly. While regulatory change generally has ample implementation or lead time, March 2020 has brought a different kind of change; one that is significant, sudden and jarring. These days you can’t just ask who moved your cheese—assuming you could find cheese in the grocery store, that is—you must quickly and effectively adapt to an entirely new normal.
Category: News and Trends
Nancy Alley: eClosing Best Practices, Part III: Navigating the Complexities of Settlement Agent and Notary Support
Lenders must have a clearly defined eClose strategy for supporting agents and notaries that includes the overall ease of use of the technology, methods for keeping agents informed and how to optimize support and training for their agents and notaries.
Paul Anselmo: The Moment Has Arrived for Remote Closings
As the real estate industry eyes its way forward through a new era of social isolation, one of the most pressing challenges has become how to close loans safely. To be sure, the traditional loan closing has gone from a celebratory event that takes place in person between title agents, notaries and borrowers to a legitimate health hazard.
MBA Opens Doors Foundation Passes 5,000-Family Milestone
The MBA Opens Doors Foundation announced it has helped more than 5,000 families with mortgage and rental assistance since launch of its Home Grant Program in 2012.
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 concerning COVID-19, along with other industry activities, are included in this week’s communication.
House Democrats Add Pressure to Administration for Mortgage Servicing Liquidity
Twenty-seven House Democrats sent a letter yesterday to Administration officials urging them to take further steps to allow mortgage borrowers to avoid delinquency and to support mortgage servicers who are working with these borrowers.
MBA Opens Doors Foundation Passes 5,000-Family Milestone
The MBA Opens Doors Foundation announced it has helped more than 5,000 families with mortgage and rental assistance since launch of its Home Grant Program in 2012.
FHFA Allows FHLBs to Accept Paycheck Protection Program Loans as Collateral
The Federal Housing Finance Agency announced yesterday that Federal Home Loan Banks can accept Paycheck Protection Program loans as collateral when making loans (advances) to their members.
March New Home Sales Feel Brunt of Coronavirus
The expected hit to new home sales from the coronavirus pandemic fully manifested itself in March, falling by more than 15 percent from February to its lowest level in six years, HUD and the Census Bureau reported yesterday.
Coronavirus-Related Initial Jobless Claims Top 26 Million
Americans filed another 4.4 million jobless claims last week, the Labor Department said yesterday, bringing the five-week total stemming from the coronavirus pandemic to 26.5 million.