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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 [...]

CHANGE IS HERE The passage of remote online notarization legislation across multiple states, the explosive increase in real estate technology investment, and the growth of iBuying in 2019 are all evidence that change is happening fast across the real estate transaction.  Title and escrow businesses, who are the center of every real estate transaction must expertly navigate the technology advancements of their real estate agent, underwriter, and lender partners while also meeting the digital demands of today’s homebuyer. VISIT WITH US  Next week, The Title Report will be attending Qualia’s Future of Real Estate Summit in Austin, Texas on January [...]