THE APRIL 2020 FIRST AMERICAN FINANCIAL (FAF) POTENTIAL HOME SALES MODEL report shows the housing supply dropped to the lowest level since August 2012, as more homeowners were reluctant to list their homes for sale amid the pandemic.

Potential existing-home sales decreased 5.1% month-over-month to a 4.68 million seasonally adjusted annualized rate (SAAR). The decrease is 39.4% higher than the market potential low point reached in February 1993. Year-over-year, the market potential existing-home sales decreased 12.6%, a loss of 672,230 (SAAR)…

TEACHERS CREDIT UNION (TCU) HAS ADOPTED XTENSIFI’S CONSTELLATION DIGITAL PLATFORM to structure its digital capabilities and include all the new features members will need when they migrate to Constellation. TCU engaged with Xtensifi, a business strategy consulting and development fintech for banks, credit unions and other financial companies, to conduct an integration framework assessment. Next, the company said, it built a digital operations strategy and roadmap, and finally, created the credit union’s digital platform…

INITIAL STRESS TESTING TO GAUGE THE PRELIMINARY IMPACT OF THE COVID-19 pandemic on insurance companies’ financial strength found that most, including mortgage insurers, have capital levels that provide “an adequate buffer against a potential shock to their balance sheets,” according to Global credit rating agency AM Best, which specializes in the insurance industry.

The sensitivity to the pandemic was greater for life and health insurers “with high asset and mortality risks,” followed by “insurers with material exposures to mortgage loans,” companies with smaller capital bases, and high-risk countries, the AM Best special report notes…