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Q3 Economic Outlook featuring Selma Hepp

Tuesday, July 15th @ 2:00 p.m. ET

In just 30 minutes, discover what leading indicators are telling us about where the housing market is headed.

Join us for the next episode in our quarterly Economic Outlook Series, featuring Selma Hepp, Senior Vice President and Chief Economist at Cotality (formerly CoreLogic). With over 20 years of experience in housing economics, Selma will share the latest market data, highlight emerging trends and offer a clear, forward-looking perspective on what to expect as we move into 2025.

Key Topics Include:

  • Economic and housing market trends to watch in Q3 and beyond
  • Macroeconomic factors influencing mortgage rates and affordability
  • Supply vs. demand: Where inventory stands and how buyers are responding
  • Pricing trends and the role of demographics
  • The risks ahead: Rising delinquencies, insurance costs and natural disasters
  • Outlook for inflation, employment and home sales

No matter your role in the real estate transaction, this quick-hit session is packed with actionable insights from one of the most respected voices in housing economics. Register today.

Thank you to SoftPro for sponsoring this complimentary webinar.

 


 
Featured Speaker Moderator

Selma Hepp

Chief Economist and Senior Vice President
Cotality

Selma Hepp holds the title of Senior Vice President and Chief Economist for Cotality, formerly CoreLogic. In this role, she leads the Economics team and is responsible for analyzing, interpreting and forecasting economic trends in real estate, mortgage and insurance.

Prior to joining CoreLogic in 2020, Selma was Chief Economist and Vice President of Business Intelligence for Pacific Union International, later acquired by Compass, where she oversaw the vital economic and technology intelligence to drive the expanding brokerage’s success. She also held the role of Chief Economist for Trulia; Senior Economist for the California Association of Realtors; and Economist and Manager for Public Policy and Homeownership research for the National Association of Realtors, as well as a special research assistant at the U.S.  Department of Housing and Urban Development.

Selma frequently appears on local and national radio and television programs and has been widely quoted in The Wall Street Journal, New York Times and many industry trade publications such as National Mortgage News and HousingWire. Selma received the HousingWire Women of Influence Award in 2022.

She earned her M.A. in economics from the State University of New York, Buffalo and a Ph.D. from the University of Maryland.

 

Leslie Wyatt

Director of Regulatory Compliance
SoftPro

Leslie Wyatt is the Director of Regulatory Compliance at SoftPro. She began her career in the real estate industry over 20 years ago, and joined SoftPro in 2002. She currently oversees the Compliance Department with her primary focus being on regulatory issues at the federal, state and county levels.

Leslie is a member of the ALTA Implementation Task Force, the Title Action Network Steering Committee, the ALTA Government Affairs Committee, the ALTA Membership Committee, the ALTA Education Committee and the TLTA Federal Issues Committee. She has represented ALTA at a congressional briefing regarding the CFPB and the TRID changes. Leslie travels throughout the country speaking on our industry’s hot topics with a focus on regulatory issues and compliance. Leslie continues to work with the CFPB on various projects regarding TRID, UCD, MISMO and other areas.


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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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