October is the one month people go looking for a good scare: horror movie marathons, haunted hayrides, that suspicious third piece of candy corn. A title commitment is not the place for it. At West Virginia Bankers Title, we'd rather surface the unsettling things early: the 1987 lien that was never quite released, the heir nobody mentioned, the easement tucked away in a deed book older than anyone in your office. Better we find them now than have them come back to haunt a policy later.



In this month's issue, you'll find the industry news and insights worth your time, minus the jump scares. Here's to a season full of treats (and zero tricks) in your transactions. 

Best regards,

Rachel Showalter, Agency Operations Manager

The Conference of State Bank Supervisors (CSBS) has released a new AI Supervisory Framework that state regulators can use to evaluate how financial institutions are using artificial intelligence. State-chartered banks and nonbank financial institutions can also use the framework to test their own AI systems for compliance. 



The framework offers a clear look at what examiners may ask about and which documents they're likely to focus on. In this Dodd-Frank piece, Attorney Troy Garris shares his own recommendations on how banks can stay proactive and ready before an examiner comes calling. 

Mortgage rates are back around 7%, putting buyer demand to the test this fall. Freddie Mac's national survey put the average 30-year fixed rate at 6.95% for the week ending Sept. 17, while NAR Chief Economist Lawrence Yun says buyers should "expect 7% as the new normal."

On a $300,000 mortgage, rates increasing from 6.5% to 7% add roughly $100 a month in principal and interest. Higher rates also shrink purchasing power, meaning buyers may no longer qualify for the home they were once eyeing. 

There's a silver lining, though. Softer buyer demand can create more room to negotiate things like purchase price and seller credits. New-home builders are also offering rate buydowns and incentives to get monthly payments back in a comfortable range. 

A new report from Gallagher, which included responses from over 3,700 U.S. employers, shows retention has become more than just an HR concern. Nearly two-thirds of employers reported annual turnover rates of 10% or higher in 2025. Despite 61% of respondents expecting revenue growth by 2027, only half expect their headcount to increase during that span.



That gap points to automation. 73% of employers expect to increase AI use by 2028, which likely explains why companies feel comfortable growing without adding to their teams. Nearly a third of employers in this study cited concerns about eroding employee trust as a barrier to AI adoption. Most say it will take an average of 28 months before AI's returns outweigh its implementation costs. 

Pending home sales rose 0.3% from July to August, but remain down 4.7% year-over-year, according to the latest NAR Pending Home Sales report. NAR Chief Economist Lawrence Yun noted that buyers continue to go under contract despite higher mortgage rates, but the market remains relatively slow overall. Higher rates seem to be canceling out gains from job growth and rising incomes. 

The South and West posted month-over-month gains, while the Northeast and Midwest declined. Yun pointed to faster home price growth in those two regions as a primary factor in the drop.