Consortium To Address Obstacles To Closings Imposed By Refi Surge and Coronavirus Outbreak

A consortium of mortgage industry providers, led by 12th Floor Group, will conduct an open conference call Tuesday to consider solutions to the mortgage closing obstacles imposed by a historic refinancing surge and compounded by the Coronavirus outbreak.  “12th Floor COVID19” is free for all registrants and will focus on ways mortgage lenders and service providers can alleviate the backlog of closings likely to worsen in the coming weeks. 12th Floor Group is an invitation-only network of the nation’s leading title and settlement service providers.

“12th Floor COVID19” is scheduled to occur Tuesday, March 17 from 10:00 am – 10:45 am EST. The town hall-style conference call is open to all bankers and mortgage lenders and will be moderated by Jaime Kosofsky, Managing Partner at Charlotte-based Brady & Kosofsky, PA and Ed McDonnell, CEO and Founder at Columbia, S.C.-based McDonnell and Associates. The discussion will entertain viable solutions for lenders seeking to improve capacity and settle the difficult logistics impairing face-to-face mortgage closings as the COVID-19 pandemic grips the world. “We will be examining in a collaborative fashion ways we, as an industry, can effectively and practically create alternative connections between the borrower and all necessary parties to closing,” said Kosofsky.

McDonnell continued. “Face-to-face contact is already being discouraged in many parts of the nation, and the risk is real that courthouses will be closing in the name of safety. We’re bringing together as many of the major elements in the mortgage transaction as we can to find ways to get homeowners into their new homes in spite of the historic challenge.”

“12th Floor COVID19” is free for lenders and all others to attend. Dial-in information will be forwarded via email to registrants. For more information and to register, go to www.12thfloorcovid19.com.

The 12th Floor Group, LLC is an exclusive, invitation-only network of the nation’s best independent settlement service and title insurance professionals. Members of 12th Floor have undergone an extensive screening and review process and have proven reputations as leaders in the title insurance and settlement services industry.