News Digest - May 4, 2023

News Digest - May 4, 2023

By Administrator

The Coming Commercial Real Estate Crash that may Never Happen

There are reasons to believe lending issues in commercial real estate will be contained. The first is that the office sector is only one part of commercial real estate, albeit a large one, and the others are in unusually good shape.

Alarming Number of New Mortgages Already Underwater

Home market volatility will likely continue, as home insurance rates continue to rise, home values drop, and an alarming number of new mortgages are already underwater, according to the 2023 Insuring the American Homeowner report by Insurify.

Measuring the Cost of Real Estate Wire Fraud   


Following an increase in virtual closings during the COVID-19 pandemic, and a peak in U.S. home sales and median home prices in 2021 and 2022 respectively, cybercriminals have increasingly sought to exploit real estate payments.

ICBA, State Affiliates Urge CFPB to Improve Mortgage Disclosures

The Independent Community Bankers of America (ICBA) and 42 affiliated state banking associations called on the Consumer Financial Protection Bureau to approve a proposed template that would improve mortgage disclosures required under TRID rules.

Bipartisan Nationwide RON Bill Reintroduced

Two U.S. Senators have reintroduced their Securing and Enabling Commerce Using Remote and Electronic (SECURE) Notarization Act (HR 3962), a bipartisan bill that would permit the nationwide use of Remote Online Notarizations (RONs).

March New Home Purchase Mortgage Applications Increased

The MBA Builder Application Survey BAS data for March shows mortgage applications for new home purchases increased by 10 % over February and 0.6 % compared to a year ago.