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NAR Relaunches 'Right Tools, Right Now' to Help Realtors® Face Coronavirus's Impacts
The National Association of Realtors® announced the return of its ‘Right Tools, Right Now’ program, which will make numerous business-critical resources immediately available to all of the association’s 1.4 million members at reduced or no cost.
Real Title Services
NAR Commends Protections for Realtors®, U.S. Consumers in $2 Trillion Economic Relief Bill
As the House of Representatives’ voted Friday to send a historic COVID-19 relief package to President Trump, the National Association of Realtors® published a comprehensive guideto the $2 trillion, 880-page bill educating Realtors® on the many benefits secured by NAR.
AccuSearch Company
Real Estate Groups Ask Governors, Mayors for Appraisal 'Stay at Home' Exemptions
The nation’s largest professional association of real estate appraisers joined four other real estate organizations March 25 in asking state and local government leaders to include appraisers among “essential services” exempted from stay-at-home or shelter-in-place orders issued during the coronavirus (COVID-19) pandemic.
Mortgage Applications Decrease in Latest MBA Weekly Survey
Mortgage applications decreased 29.4 percent from one week earlier, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending March 20, 2020.
90 Organizations Urge DHS to Designate Residential Construction "Essential"
In an effort spearheaded by the National Association of Home Builders (NAHB), 90 companies and organizations today called on the Department of Homeland Security (DHS) to designate construction of single-family and multifamily housing as an "Essential Infrastructure Business."
New Home Sales Data Shows Housing on Strong Footing Prior to Virus Concerns
Sales of newly built, single-family homes fell 4.4 percent to a seasonally adjusted annual rate of 765,000 units in February, coming off a sharp upward revision in January, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
American Land Title Association Applauds Sens. Cramer (R-ND) and Warner (D-VA) for Introducing Bipartisan SECURE Notarization Act
The American Land Title Association(ALTA), the national trade association of the land title insurance industry, applauded Sens. Kevin Cramer (R-ND) and Mark Warner (D-VA) for introducing the bipartisan Securing and Enabling Commerce Using Remote and Electronic Notarization Act of 2020 (SECURE Notarization Act), which would permit immediate nationwide use of remote online notary (RON) with minimum standards and provide certainty for the interstate recognition of RON.
Quick Links
U.S Mortgage Rates Hit Reverse as Applications Fall and the FED Delivers Stability
Over the previous 2-weeks, lenders had raised rates to combat a surge in applications. Freddie Mac had reported a fall in demand going into last week, however, which allowed lenders to lower rates.

Do real estate agents provide an essential service?
The real estate industry not only helps provide homes for millions of Americans, but it also creates millions of job opportunities, making the industry a massive driver of the U.S. economy. But with more state and local governments implementing stay-at-home orders, real estate agents are having to redefine how they do business, as they find ways to meet with clients and also maintain the health and safety of all parties involved.

What Does the Closure of Clerk and Recorder's Offices Mean for Real Estate Closings and Title Insurance Coverage?
The inability to record documents or a delay in timely recording documents can lead to issues with title insurance coverage.

Recording Office Closures Could Stymie Construction Loans, Disrupt Title Commitments
Across the country, counties and municipalities have been shutting down places of work in efforts to encourage social distancing and stem the spread of the novel coronavirus. This includes county and city government recording offices that facilitate the processing of critical commercial real estate documents - such as deeds of title and mortgage records - that are ultimately responsible for the closing of commercial real estate transactions.

No deed, no deal: Pa. real estate industry stymied by move online
Deed recording is one of the oldest county government functions, meaning the stoppage is likely the first time the city has indefinitely suspended the in-person deed transfers in its 337-year history. Dunn said officials were unsure if the city had ever suspended live deed recordings in the past.

Mortgage applications drop by biggest amount in 11 years
The number of people applying for a mortgage - either to refinance or buy a home - plunged by the largest amount in more than 11 years, according to the Mortgage Bankers Association.

Are notaries considered essential businesses?
As more states and localities implement "stay at home" or "shelter in place" orders that allow only essential businesses to operate, companies and the customers they serve are having to figure out whether they fall into this category. According to the National Notary Association, notaries do provide an essential service.


On the Blogs

Only allowing e-recording could be a BIG problem for us
Jeanine Johnson's Blog
2020/03/23
2 comments

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Maryland Abstractor Needed
March 10 2020
Busy title company located in Baltimore, MD looking to hire a full time abstractor

*At least 3 years of experience abstracting and reviewing residential property searches for Maryland
*Have the ability to identify possible defects in a title
* A...[more info]


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