Mary and Chuck Cain: Turning the Tables

In this episode of Commitment Matters, Mary catches up with Chuck Cain, Senior Vice President - National Agency for the FNF Family of Companies. You can reach Chuck via email at [email protected] or listen to him on the FNF Unplugged podcast.

During their conversation, Chuck or Mary mentioned:

The real estate industry is evolving in how it conducts business. Check out this article to learn more about what is disrupting the traditional business model and learn about upcoming trends will further impact it.Here’s a breakdown of how the RedFin model works.Chuck mentioned a report from the Inman Headline, noting how teams are also becoming more important to the Real Estate industry. Here is Inman’s Essential Guide to Real Estate Teams.It’s said there’s an 80/20 rule regarding how many agents produce the bulk of business. This article with statistics ranging from 2017-2019 sheds more light.RIN, RON, and AVON…Capital Title Insurance Agency drafted this quick-reference to all things electronic closing.Get up to speed on iBuyers and SPACs. As Chuck noted, such companies are expanding into smaller communities, not just urban settings. In 2020, Forbes offered a look at the top ten cities for potential iBuyer growth.Mary says, “nope;” would you buy a car from a vending machine?Redfin reported more and more buyers are closing on a home without seeing the property.The National Association of Realtors (NAR) offers this advice in creating a social media usage policy and Inman offers this insight on avoiding legal landmines with social media.Chuck mentions co-marketing regulations, as well. Here’s what the NAR suggests.Here are the CFPB FAQs regarding RESPA Section 8.Check out this overview of how the CFPB may shift under President Biden. Side By Side is a guide on Fair Lending from the FDIC. Plus, the National Fair Lending Alliance’s website is filled with resources.The CFPB versus Townstone Financial Inc.: get the scoop on how the “Feds say radio statements by Townstone Financial reps amount to ‘redlining’ Townstone says it’s an attempt to ‘cancel’ silence free speech.”Chuck mentions The New Urban Crisis by Richard Florida.Organized Cyber Crime is real. It’s no longer a single hacker targeting businesses, it’s a whole team.Tom Cronkright of CertifID highlights a rise in cybercrime, sourced from the FBI’s 2020 Internet Crimes Report.As Chuck mentions, congress is increasing its focusing on the protection of personal information. Here’s a look at the expansion of DC’s law, California Privacy Act, and New York’s pending legislation. Risk Management: third Party providers must also be considered when it comes to NPI.Here’s more on a need for lenders to consider real-time quality assurance.Chuck quotes Shoshana Zuboff’s book, The Age of Surveillance Capitalism.Deep dive into the details of privacy disclosure do’s and don’ts.Here are resources and templates for the ever-important (if not frequently read) Master Closing Instructions and Service Level Agreements (SLAs).As noted, mortgage lenders experienced an increase in profit margins with the refinance boom of 2020, but looking forward, expect them to shrink.Learn more about Business Intelligence (BI).Technology and automation are driving US Banks to cut as many as 200,000 employees in the next decade.Here’s a bit more on Warehouse Lending and how digital mortgages are reducing lag time.Remember Blockchain? You can also learn more about the Torrens System.MBA’s website offers several compliance resources. Learn more about fourth party compliance issues.Catch up on the decade-long fight over the CFPB’s existence, plus read an update since the episode was recorded: the Supreme Court ruled on the FHFA leadership; President Biden responded.Have you read Acting Director Dave Uejio’s statement of priorities, including COVID-19 related hardship?It seems the days of $1 CFPB fines are over. Chuck mentions the CFPB’s case against PHH, which was dismissed in 2018. Read more.The CFPB is hiring!Mary and Chuck discussed the Positive Pay system - its benefits and shortcomings.Here’s a primer on all thing mortgage fraud and an overview of how AI enhances the consumer experience even as it evolves to aid in fraud protection.Chuck mentioned hearing Garth Graham of the Strathmor Group speak at an MBA conference about the cost and usage of technology. Here’s an in-depth article he wrote on this digital transformation.You can deep-dive into all things SOC 2 related here.

If you’d like to contact the Commitment Matters podcast, email [email protected].

Don’t forget to subscribe, rate, and review this podcast on Apple Podcast, Spotify, or wherever you listen to podcasts, or visit RamQuest.com/podcast to download the latest episode.

Lastly, we love to see when and how you’re listening. Share our posts, or create your own and tag them: #CommitmentMattersPodcast