Leaders from the Texas Mortgage Bankers Association and Texas Bankers Association will also sit on the May 1 panel.
WHAT: Rawls College will lead a panel discussion focused on the impact of COVID-19 on commercial and mortgage banking.
WHEN: Friday, May 1, 2020 at 2:00 – 3:00 p.m.
WHERE: Zoom webinar
EVENT: Rawls Responds: Today's Commercial Banking Environment
As the United States continues to navigate the COVID-19 pandemic, the banking industry is at the forefront of many financial support and response efforts.
The Jerry S. Rawls College of Business will host a free webinar on May 1 addressing the many challenges commercial and mortgage bankers may be facing as small businesses and individuals seek help to complete loan applications and navigate financial situations impacted by job losses, slowed sales and declining profits.
"In the midst of this pandemic, bankers have worked around the clock to deliver the Payroll Protection Program (PPP) and counsel customers in regards to the Economic Injury Disaster Loan (EIDL) program administered by the Small Business Administration (SBA)," said panelist Mike Mauldin, director of the Excellence in Banking Program and associate professor of practice. "Additionally, as an unintended consequence, mortgage servicers have been overly stressed by the uncertainty surrounding the rules they were required to comply with to help consumers get through this time."
The webinar will address what types of issues banks might expect to see as the economy begins to reopen, continued implementation of SBA lending programs under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and mortgage banking and servicing concerns.
Mauldin will be joined by experts from the Center for Real Estate; Jared Harrell, assistant professor of practice, and Stephen Buschbom, assistant professor. Additionally, John Fleming, general counsel of the Texas Mortgage Bankers Association, and Chris Furlow, president of the Texas Bankers Association will join the panel to offer additional insight on the anticipated and lasting effects of the pandemic on the banking industry.
"We are excited to have Chris and John join us to recap some of the issues faced by bankers and mortgage servicers," said Mauldin. "We will also take a look ahead as to what we might be able to expect in the future."
According to Fleming, the future of banking will undoubtedly be impacted by the COVID-19 pandemic.
"A crisis that breaks down our normal channels of doing business does two things; it shines a light on a system's flaws that may have been hidden and it destroys the assumptions on which the old models were built," Fleming said. "Because we have had our traditional real estate closing processes locked down, this pandemic will quicken the rapid expansion of electronic mortgage platforms. And just like after Hurricane Harvey, we are seeing that our strict home equity consumer protections are not so much protecting consumers as they are prohibiting our industry from offering consumers the relief they need."
Furlow added that banks will play a major role as the economy looks to recover.
"Texas has the 10th largest economy on the planet. The double hit of the Coronavirus pandemic and drop in oil prices has changed the economic landscape overnight," said Furlow. "The role that Texas banks play in responding to the crisis will be pivotal to the resilience of Texas and the nation. We're looking forward to discussing how our banks are already making a difference, and what we must do in the months ahead to ensure that Texas leads the US on its path back to prosperity."
The webinar is free and open to the public but will be limited to 500 participants.
Zoom information:
Please click the link below to join the webinar:
https://us02web.zoom.us/j/83245081075
Or iPhone one-tap :
US: +13462487799,,83245081075# or +16699006833,,83245081075#
Or Telephone:
Dial(for higher quality, dial a number based on your current location):
US: +1 346 248 7799 or +1 669 900 6833 or +1 301 715 8592 or +1 312 626 6799 or +1
929 205 6099 or +1 253 215 8782
Webinar ID: 832 4508 1075
International numbers available: https://us02web.zoom.us/u/kSbHU7RZs
CONTACT: Jared Harrell, jared.harrell@ttu.edu, (806)834-1827