The National Conference of Commissioners on Uniform State Laws has approved model legislation that would give county clerks and recorders the legal authority to prepare for electronic recording of real property records.The act, called the Uniform Real Property Electronic Recording Act, could create legislation that would authorize officials to begin accepting and storing records in electronic format. However, many state laws still require recorded real documents. This act would supersede those laws if it were made a law. Nonetheless, other legislation to establish the standard document format, the authority to record such forms, and the authority to fix fees for electronic recording and to collect those fees would have to be settled in order for electronic recording to become more widespread.
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The Federal Deposit Insurance Corp. issued proposals Thursday that would reduce planning requirements for big banks and slash deposit insurance prices, citing the financial health of the Deposit Insurance Fund.
June 25 -
Christopher Phelan, President Donald Trump's nominee to chair the Council of Economic Advisers, declined to directly answer questions about recent inflation data and the effects of tariffs on consumers during a Senate confirmation hearing Thursday.
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Median purchase loan payments hit $2,198 in May, up 2.1% from April, as rising rates and home prices threaten to dampen origination volume, MBA reports.
June 25 -
Experts aren't forecasting immediate relief and instead are citing silver linings in rate certainty and greater mortgage demand as compared to the same time last year.
June 25 -
Federal Reserve Vice Chair for Supervision Michelle Bowman said Thursday morning that the central bank recently finalized a new organizational structure for its supervision and regulation division.
June 25 -
Almost 75% of brokers reported growing non-QM volume in their business over the last three years, and just 3.7% said volume decreased, according to AD Mortgage.
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