Lenders Looking to New Tech as Pessimism Over Profit Margins Grows

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Posted To: MND NewsWire

Lenders continue to be pessimistic about their profit outlook as 2018 draws to an end. Fannie Mae said its fourth quarter 2018 Mortgage Lender Sentiment Survey found the profit outlook reported by respondents at an all-time survey low. This was true whether they were talking about purchase or refinance mortgages or about GSE-eligible, non-GSE-eligible, or government loans. It was the ninth consecutive quarter that lender outlook has declined. Smaller slices of a shrinking pie sums up the reasons given by lenders for their lowering outlook, especially for refinancing. When asked whether refinancing demand had increased over the past three months for any loan type, or if they expected it would over the next three months, positive answers did not break 5 percent. Responses to the same questions…(read more)

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