5 unchanged sentences
This has resulted in an unprecedented slow-down in economic activity and a related increase in unemployment.
−Removed: Since the COVID-19 outbreak, more than 22 million people have filed claims for unemployment, and stock markets have declined in value and, in particular, bank stocks have significantly declined in value.
+Added: Since the COVID-19 outbreak, more than 50 million people have filed claims for unemployment, and stock markets have experienced significant volatility in value and, in particular, bank stocks have significantly declined in value.
Governments, businesses, and the public are taking unprecedented actions to contain the spread of COVID-19 and to mitigate its effects, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief.
While the scope, duration, and full effects of COVID-19 are rapidly evolving and not fully known, the pandemic and related efforts to contain it have resulted in material decreases in oil and gas prices, disrupted global economic activity, adversely affected the functioning of financial markets, impacted interest rates, increased economic and market uncertainty, and disrupted trade and supply chains.
−Removed: These developments as a consequence of the COVID-19 pandemic are materially impacting our business and the businesses of our customers and are expected to have a material adverse effect on our financial results for 2020, as evidenced by our first quarter results.
−Removed: If these effects continue for a prolonged period or result in sustained economic stress or recession, such effects could have a material adverse impact on us in a number of ways related to credit, collateral, customer demand, loan funding, operations, interest rate risk, and human capital, as described in more detail below.
+Added: These developments as a consequence of the COVID-19 pandemic are materially impacting our business and the businesses of our customers and are expected to have a material adverse effect on our financial results for 2020.
+Added: effects continue for a prolonged period or result in sustained economic stress or recession, such effects could have a material adverse impact on us in a number of ways related to credit, collateral, customer demand, loan funding, operations, interest rate risk, and human capital, as described in more detail below.
• Credit Risk
10 unchanged sentences
Our success may be affected by a variety of external factors that may affect the price or marketability of our products and services, changes in interest rates that may increase our funding costs, reduced demand for our financial products due to economic conditions and the various responses of governmental and nongovernmental authorities.
−Removed: In recent weeks, the COVID-19 pandemic has significantly increased economic and demand uncertainty and has led to disruption and volatility in the global capital markets.
+Added: In recent months, the COVID-19 pandemic has significantly increased economic and demand uncertainty and has led to disruption and volatility in the global capital markets.
Furthermore, many of the governmental actions have been directed toward curtailing household and business activity to contain COVID-19.
11 unchanged sentences
In light of the developing measures responding to the pandemic, many of these entities may limit the availability and access of their services.
−Removed: For example, loan origination could be delayed due to the limited availability of real estate appraisers for the collateral.
+Added: For example, loan
+Added: origination could be delayed due to the limited availability of real estate appraisers for the collateral.
Loan closings could be delayed related to reductions in available staff in recording offices or the closing of courthouses in certain counties, which slows the process for title work, mortgage and UCC filings in those counties.
−Removed: If the third-party service providers continue to have limited
−Removed: capacities for a prolonged period or if additional limitations or potential disruptions in these services materialize, it may negatively affect our operations.
+Added: If the third-party service providers continue to have limited capacities for a prolonged period or if additional limitations or potential disruptions in these services materialize, it may negatively affect our operations.
• Interest Rate Risk
8 unchanged sentences
In addition, the effects could have a material impact on our results of operations and heighten many of our known risks described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2019.
+Added: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
+Added: (a)-(b) Not applicable
+Added: (c) There were no stock repurchases by the Company during the three-month period ending June 30, 2020 .
+Added: DEFAULTS UPON SENIOR SECURITIES
+Added: MINE SAFETY DISCLOSURES
+Added: Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.