Lenders Remain Pessimistic about Demand, Profits

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Posted To: MND NewsWire

Last week the Mortgage Bankers Association said that independent mortgage bankers had reported negative production revenue in the first quarter of this year. This week Fannie Mae reminded us that lenders have long expected it to happen. The company’s Mortgage Lender Sentiment Survey for the second quarter, which gathered responses from 87 senior executives representing 170 lending institutions, found more than a third (35 percent) expect their net profit margin to decline over the next quarter while 47 percent expect it will stay the same. Over the last four quarters less than 20 percent of respondents have expected profits to improve. Fannie Mae said it was the seventh consecutive quarter that the lender profit outlook has been negative, although responses to the second quarter survey were…(read more)

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