Mortgage Lenders Expect to Continue to Ease Standards: Fannie
National Mortgage News
Lenders continued to ease loan standards across all types of mortgage products in the fourth quarter and they expect the trend to continue, according to Fannie Mae.
The share of lenders who said they expect to ease standards rose to 16%, compared to the share of lenders who said they expect to tighten standards, which fell to 2%, Fannie Mae said in its latest Mortgage Lender Sentiment Survey.
Additionally, 17% of lenders said they eased standards in the fourth quarter, while just 2% tightened them. In the fourth quarter of 2015, 9% of respondents eased while 6% tightened.
Their responses applied to both GSE-eligible loans and non-GSE-eligible loans.
"Thoughtful easing will help mitigate some of the affordability decline," Doug Duncan, Fannie Mae's chief economist, said in a news release.
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