This Wednesday, Lenders One Cooperative will release results from its survey on mortgage lender sentiment. The survey will cover jumbo loans, growth, and foreclosure, and will discuss emerging trends in the market. Lenders One is an end to end marketplace for mortgage bankers.
Lenders One's previous annual Mortgage Barometer from 2016, a survey of 200 mortgage lending professionals, found the majority of lenders to expect mortgage purchase production to increase that year. It identified the growing housing market for Millennials, as in 2016, many Millennials began to reach the "peak age" for homebuying.
In the Survey 69 percent of lenders named “boomerang buyers,” or those who can now qualify for a mortgage after undergoing a short sale, foreclosure or bankruptcy, as the the group which would present the best growth opportunities. Another 71 percent named Hispanics as the group which would present the best growth opportunities. The top tactic for growth lenders named was to reach new demographics.
“The strong confidence levels we’re seeing among lenders highlight the continued bounce back from one of the most challenging real estate and lending environments in U.S. history,” said Interim CEO of Lenders One Daniel T. Goldman in the survey. “In an environment where lenders can once again focus on business growth initiatives, it will be more important than ever for mortgage professionals to have access to the tools and ongoing training they need to capitalize on these emerging trends.”
The Lenders One Mortgage Barometer is conducted online among a random sample of 200 mortgage lenders.
This Week’s Schedule
Neel Kashkari Speaks at meeting of the Minnesota Business Partnership, Tuesday, 1:45 p.m. EST
Treasury Budget, Wednesday, 2 p.m. EST
MBA Mortage Applications, Wednesday 7 a.m. EST
Freddie Mac Weekly Mortgage Survey, Thursday, 10 a.m. EST