Blog – Tuesdays with Mary

Dear Readers, In these unprecedented times, we must all adapt our lives to new realities, for however long they may last. This is true in our personal lives, but also our businesses. For instance, what do you do when you have to close your office? Can business continue as usual if people are working remotely? Are you able to perform digital closings? If your office is remaining open for closings, what precautions are you taking to ensure the safety of your staff and the consumers walking in? Are you upping your cleaning schedule, washing hands, cleansing closing tables between appointments? [...]

It’s been said that necessity is the mother of invention. When it comes to Lily Bergman, a desire for more time with clients, more efficient modes of operation, and smaller paper footprints have proven equal motivators. As operations director at Goosmann Rose Colvard & Cramer, P.A. (GRCC), in Asheville, N.C., Bergman has earned a reputation for blowing up paper-centric processes and personalizing software applications in ways that have driven ROI. The improvements she’s made during her short time in the industry are being marketed to settlement firms throughout the country. “It all started because I noticed the need for a [...]

Editor’s Note: This is the second in a new monthly series on affiliated companies. Our goal is to feature companies which have had history and experience with affiliated business to learn about their success and share the RESPA compliance lessons they have gained in these affiliations over time. Berkshire Hathaway HomeServices Fox & Roach Realtors has been the No. 1 company in the Berkshire Hathaway network four years in a row out of more than 1,000 real estate companies across the country. The Devon, Penn.-based brokerage’s market dominance is three times the market share of its nearest competitor. Formerly Prudential [...]

Small-business owners added employees during January, and many are planning to raise pay levels to fill open positions, according to a jobs report from the National Federation of Independent Businesses (NFIB). NFIB reported an average employment change per firm in January of 0.49 workers, the highest level since March 2019. Additionally, NFIB said 36 percent of small-business owners surveyed reported raising compensation, up seven points from December. “Small businesses are keeping the strong economic momentum going in the New Year,” NFIB Chief Economist Bill Dunkelberg said in a release. “They are adding jobs and raising compensation. With the help of tax and [...]

Small-business optimism in November posted its largest month-over-month gain since May 2018, according to a survey by the National Federal of Independent Business (NFIB). NFIB’s Optimism Index rose 2.3 points to 104.7 in November, bolstered by improvements in seven of the 10 Index components measured, including a 10-point improvement in earnings. “This historic run may defy the expectations of many, but it comes as no surprise to small-business owners who understand what a supportive tax and regulatory environment can do for their companies,” NFIB Chief Economist William Dunkelberg said in a release. “As the two-year anniversary of the Tax Cuts and Jobs Act’s passage [...]

Fannie Mae’s chief economist expects growth in the U.S. gross domestic product (GDP) this year to be propelled by labor market strength and consumer spending. Housing construction, he says, may contribute to overall economic growth. Senior Vice President and Chief Economist Doug Duncan said Fannie Mae expects annual growth of 2.1 percent in 2020, a forecast that anticipates an increase in single-family housing starts and no interest-rate moves from the Fed. Duncan expects single-family housing starts and sales of new homes to increase in 2020. However, tight housing supply and increasing  demand likely will continue to increase home prices, which are hovering near [...]

As a new decade begins, and the regulatory impact of the Consumer Financial Protection Bureau on the industry eases, Fannie Mae and Freddie Mac have made their own moves forward in the marketplace, creating standards for the industry to follow. Learn more about this new regulatory focus for the industry. We take a deep dive in understanding the market, the GSEs’ impact on technology and eClosings, and much more, with expert insight from inside the agencies themselves. Download Today.

Dear Readers, First of all, I’m so glad it is finally February. While not bad, January felt like it lasted forever, without the usual “fresh start” motivation I usually still feel as we flip the calendar to the second month of the year. Speaking of things that seem to take a long time, the Consumer Financial Protection Bureau was busy in January. Among other things, they put out a policy statement regarding its application of the abusiveness standard in its supervision and enforcement matters. Since its inception, there have been some questions about what the CFPB will constitute abuse. Hopefully [...]

I have never been a risk taker, so when my 17-year-old son recently told me he plans to launch a bona fide business of detailing cars with his fellow high school senior classmate this spring, I was skeptical. After assuring me that he was still going to attend college in the fall and not put his academic scholarship at risk, I felt much better. I felt even more relieved when he told me their business plan, and the fact that they had saved up enough of their own money to buy a decent used work van, insurance and the expensive [...]