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Some lenders are worried about a squeeze on their profit margin,
but the number of them has fallen since the fourth quarter of
2016, according to the 184 mortgage executives who responded to
the survey.
In a response to a tougher climate, more lenders said they plan
to relax their lending standards, which could attract more
borrowers, survey data showed.
“Expectations to ease credit standards climbed to survey
highpoints in the second quarter as more lenders reported
slowing mortgage demand and increasing concerns about
competition from other lenders,” Doug Duncan, Fannie Mae's chief
economist at Washington-based mortgage finance agency, said in a
statement.
The margin on the share of lenders who saw a drop in consumer
demand for a loan to buy a home in the past three months over
the share of lenders who saw a rise in purchase loan demand fell
to about 30 percent, the lowest in two years on a year-over-year
basis, Fannie Mae said.
The net percentage of lenders which anticipate lower profit
margin in the next three months stood at 6 points, down from 12
points in the first quarter and from 31 points in the fourth
quarter of 2016.
The net share of lenders which expect to ease credit standards
rose to 15 points in the second quarter, up from about 3.5
points a year earlier.
Fannie Mae's quarterly lender sentiment survey was launched in
March 2014.
(Reporting by Richard Leong; Editing by Lisa Shumaker)
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