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2024 Economic Forecast Series featuring Doug Duncan

Complimentary Webinar

Original Air Date: October 15, 2024

Fannie Mae’s renowned economist Doug Duncan returned to the Economic Forecast Series to share his latest, highly accurate forecast with you. In this 30 minute webinar, he provides an in-depth look at the latest trends and projections for the housing market as well as a range of crucial topics for the fourth quarter and 2025, including:

  • The Federal Reserve’s decisions and their impacts on the market
  • Interest rate trends and projections for the 4th quarter of this year and 2025
  • An overview of the current housing market
  • New and existing home sales data
  • Construction updates
  • Potential impacts on the housing market after the Nov. 5 election
  • Home price projections
  • Consumer behavior and perceptions versus reality
  • The latest on inflation

Don’t miss the latest edition in the Economic Forecast Series designed to provide practical, insightful information to support your business.

Thank you to SoftPro for sponsoring this complimentary webinar series.

 

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Featured Speaker

Doug Duncan
Senior Vice President
Fannie Mae

Douglas G. Duncan has served as Senior Vice President and Chief Economist at Fannie Mae since 2008 where he has been responsible for forecasts and analyses of the economy and the housing and mortgage markets. He stepped down as Chief Economist at the end of September and his Deputy, Mark Palim transitioned into that role. Duncan is retiring at the end of 2024 after 16 years at the company and another 15 years prior to that at the Mortgage Bankers Association. Under his leadership, Fannie Mae’s Economic & Strategic Research Group (ESR) has won multiple awards. Most recently, he and his team were awarded the 2022 Lawrence R. Klein Award for Blue Chip Forecast Accuracy in the 2018-2021 period.

Duncan received his Ph.D. in Agricultural Economics from Texas A&M University and his B.S. and M.S. in Agricultural Economics from North Dakota State University.


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12 USC Section 2605 or Section 6 is titled Servicing of mortgage loans and administration of escrow accounts. It pertains to qualified written requests, notices of transfer of servicing and the administration of escrow accounts.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
An arrangement that involves a person who is in a position to refer business as part of a real estate settlement service and who has an interest in a settlement services provider.

In the arrangement, the person, who has either an affiliate relationship with or a direct or beneficial ownership interest of more than one percent in a settlement services provider, directly or indirectly refers business to that provider or influences a consumer to select that provider.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
A mortgage disclosure that lists all estimated charges and fees associated with your loan. In addition to fees and charges, it will list your loan amount, mortgage rate, loan term and estimated monthly payment. Your escrows due at closing for insurance and taxes will also be outlined. Mortgage lenders are legally required to provide a GFE within three days of receiving your application.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
Under RESPA Section 2605(e)(1)(B), a qualified written request is a written correspondence that includes: 1) the name and account of the borrower, or has enough information to allow the servicer identify that information; and 2) a statement of the reasons for the belief of the borrower that the account is in error or provides sufficient detail to the servicer regarding other information sought by the borrower.

A QWR cannot be written on a payment coupon or other payment medium supplied by the servicer.
12 USC Section 2609 or Section 10 is titled Limitation on requirement of advance deposits in escrow accounts. It governs escrow accounts including notifications and statements to borrowers. Section 10 also sets out penalties for those who violate the section.
RESPA Section 3 provides that a thing of value includes any payment, advance, funds, loan, service or other consideration

Regulation X says thing of value includes: monies, things, discounts, salaries, commissions, fees, duplicate payments of a charge, stock, dividends, distributions of partnership profits, franchise royalties, credits representing monies that may be paid at a future date, the opportunity to participate in a money-making program, retained or increased earnings, increased equity in a parent or subsidiary entity, special bank deposits or accounts, special or unusual banking terms, services of all types at special or free rates, sales or rentals at special prices or rates, lease or rental payments based in whole or in part on the amount of business referred, trips and payment of another person’s expenses or reduction in credit against an existing obligation.
A form used by a settlement or closing agent itemizing all charges imposed on a borrower and seller in a real estate transaction. This form represents the closing transaction and provides each party with a complete list of incoming and outgoing funds. RESPA requires the HUD-1 to be used as the standard real estate settlement form in all transactions in the U.S. involving federally related mortgage loans.
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