DS News

DS News December 2020

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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Page 46 of 100

45 ECONOMIC ANALYSIS POINTS TO RECOVERY As the economy continues toward recovery, albeit at a slower pace, the housing market will continue to display vibrancy amid an increase in residential construction spending, according to the latest Economic & Housing Weekly Note published by Fannie Mae. "Data in September showed that the economic recovery is still ongoing, though there were more signs that the pace of recovery is slowing," wrote Ricky Goyette, Associate with Fannie Mae's Economic and Strategic Research Team. "Job growth continued in September, though once again the pace slowed from the prior month. Total nonfarm payroll employment remains 7.0% below the level seen in February." Goyette pointed out that while personal income levels were down in August, "this was entirely attributable to a decrease in unemployment insurance benefits" and was counterbalanced by "sharp increases in both consumer confidence and light vehicle sales in September." As a result, Goyette theorized a continuation of consumer spending, although at a slower pace than seen during the summer. On the housing front, Goyette noted Fannie Mae remained bullish on this market. "In housing, data continued to show strength in the housing market, with an increase in pending sales to record levels," he continued. "e increase in September private residential construction spending supports our outlook for a strong rebound in residential fixed investment in the third quarter." e data cited by Goyette included the latest Pending Home Sales Index from the National Association of Realtors, which spiked by 8.8% from August to September, reaching a record high of 132.8; the year- over-year pending sales soared by 24.2%. On the construction side, the data was culled from the U.S. Census Bureau's findings that private residential construction spending rose 3.7% in September while new single-family housing spending increased 5.5%, the largest monthly increase since July 2009. Compared to one year earlier, new single-family spending was up by 2.22%. Journal MICHIGAN Schneiderman and Sherman, P.C. 866.867.7688 sspclegal.com MINNESOTA Shapiro & Zielke, LLP 952.831.4060 zielkeattorneys.com MISSISSIPPI Dean Morris, LLC 318.330.9020 McCalla Raymer Leibert Pierce, LLC 662.388.5463 mrpllc.com NEVADA BDF Law Group 972.386.5040 bdfgroup.com NEW HAMPSHIRE Marinosci Law Group, P.C. 401.234.9200 mlg-defaultlaw.com NEW JERSEY KML Law Group, P.C. 215.825.6353 kmllawgroup.com Phelan, Hallinan, Diamond & Jones, P.C. 856.813.5500 phelanhallinan.com Robertson, Anschutz and Schneid, PL 561.241.6901 rasflaw.com Stern & Eisenberg, P.C. 215.572.8111 sterneisenberg.com Stern, Lavinthal & Frankenberg, LLC 973.797.1100 sternlav.com NEW MEXICO Houser LLP 206.596.7838 houser-law.com Rose L. Brand & Associates, P.C. 505.833.3036 roselbrand.com NEW YORK Gross Polowy, LLC 716.204.1700 grosspolowy.com The Margolin & Weinreb Law Group, LLP 516.921.3838 nyfclaw.com Weaver Mancuso Frame, PLLC 315.303.3408 wmfpllc.com Stein, Wiener & Roth, LLP 516.742.6161 NORTH CAROLINA Brady & Kosfsky, PA 704.849.8008 bandklaw.com Shapiro & Ingle, LLP 704.333.8107 shapiro-ingle.com OHIO Cooke Demers, LLC 614-939-0930 cdgattorneys.com Padgett law Group 937.743.4878 padgettlawgroup.com OKLAHOMA Kivell, Rayment and Francis, P.C. 918.254.0626 kivell.com Lamun Mock Cunnyngham & Davis 405.840.5900 lamunmock.com OREGON The Mortgage Law Firm 619.465.8200 mtglawfirm.com PENNSYLVANIA Bernstein-Burkley, P.C. 412.456.8112 bernsteinlaw.com Hladik, Onorato & Federman, LLP 215.855.9521 hoflawgroup.com Powers Kirn & Associates, LLC 856.802.1000 powerskirn.com Richard M. Squire & Associates, LLC 215.886.8790 squirelaw.com Shapiro & DeNardo, L.L.C. 610.278.6800 shapiroanddenardo.com PUERTO RICO HMB LAW GROUP 787.249.4440 hmblawgroup.com SOUTH CAROLINA Bell Carrington & Price, LLC 803.509.5078 bellcarrington.com Finkel Law Firm, LLC 803.765.2935; 843.577.5460 finkellaw.com Riley Pope & Laney, LLC 803.799.9993 rplfirm.com TENNESSEE Mackie Wolf Zientz & Mann 615.238.3625 mwzmlaw.com Cruikshank Ersin, LLC 770.884.8184 cruikshankersin.com Richard B, Maner, P.C. 404.252.6385 rbmlegal.com Padgett Law Group 850.422.2520 padgettlawgroup.com TEXAS BDF Law Group 972.386.5040 bdfgroup.com Bonial & Associates P.C. 972.643.6698 bonialpc.com McCarthy Holthus, LLP 877 . 369 . 6122 mccarthyholthus.com UTAH Scalley Reading Bates Hansen & Rasmussen, P.C. 801.531.7870 scalleyreading.com VERMONT Schiller, Knapp, Lefkowitz & Hertzel, LLP 518.786.9069 schillerknapp.com VIRGINIA Samuel I. White, P.C. 757.490.9284 cquarles@siwpc.com siwpc.net WEST VIRGINIA Bernstein-Burkley, P.C. 412.456.8112 bernsteinlaw.com WISCONSIN O'Dess and Associates, S.C. 414.727.1591 OdessLaw.com ASSOCIATE MEMBER (EXECUTIVE) Hello Solutions 727.403.5900 hellosolutions.com ProVest 813.877.2844, ext. 1424 provest.us ASSOCIATE MEMBER (PARTNER) a360inc 248.432.9360 a360inc.com Baker Donelson 404.589.3408 bakerdonelson.com eNotaryLog.com 855.225.5808 enotarylog.com Firefly Legal 708.326.1410 fireflylegal.com Global Strategic Business Processing Solutions 212.260.8813 globalstrategic.com ServiceLink 800.777.8759 svclnk.com ASSOCIATE MEMBER (SUPPORTER) Independence Title 512.454.4500 independencetitle.com Title Leader 866.599.4900 titleleader.com SM Raising the Bar for Financial Services Law Firms Acting as the voice of advocacy for its member firms, the Legal League 100 is dedicated to strengthening the mortgage servicing community. 214.525.6786 - LegalLeague100.com THE LEGAL LEAGUE 100 2020 ALL-STAR LINEUP

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