Get free access to our world class MLS search tools, save your favorite listings, create saved searches & much more!

Lenders expected to ease credit standards

Posted by Julie Wright on Wednesday, June 28th, 2017 at 10:01am.

Lenders are concerned over general economic conditions, and they are easing their credit standards to cope with the anticipated slowdown in market demand.


Fannie Mae said in an outlook report that more lenders expect to implement less stringent standards in the next three months for GSE eligible, non-GSE eligible and government loans as lenders report a drop in purchase mortgage demand.



“The drop in purchase mortgage demand also reflects the latest finding in the Fannie Mae National Housing Survey, in which the net share of consumers who reported that now is a good time to buy a home dropped to a record low,” the government-sponsored enterprise also said.

Doug Duncan, senior vice president and chief economist at Fannie Mae said, “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 others.”

“Lenders cited additional contributing factors such as diminishing compliance concerns and more support from GSEs, including clarification on representations and warranties and tools that provide greater certainty during the loan underwriting process,” he added.

Further, “Easing credit standards might also be due in part to increased pressure to compete for declining mortgage volume.”

 

by Allie Sanchez28 Jun 2017
http://www.mpamag.com/news/lenders-expected-to-ease-credit-standards-71681.aspx

 

 

 

 

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"



Related Blog Posts

Las Vegas Real Estate Tour - 2289 Candlestick

Take a tour with Mas and Deb of this fabulous guard gated home in the Estates at Green Valley Ranch.  Walk with us as we tour of this beautiful property.  Go to https://www.greatlasvegashomes.com/listing/2099031-2289-candlestick-avenue-606-henderson-nv-89052/ for more details!  ...

Truly Bad MLS Photos - How NOT to Sell a House

They say that a picture is worth a 1000 words – in real estate, that can be a good thing or a bad thing. Even keeping in mind that real estate agents are not professional photographers, over the years we have seen some real doozies posted on the Internet! Those are the ones that are certainly not going to sell the ho...

Canadians: Use Your Home Equity to Buy a Vacation Home in Vegas!

So you’re from Canada, eh? And to get out of the bitter cold winters, you want to buy real estate in Las Vegas.  We all know how hard it is for Canadians to obtain a mortgage in the US nowadays. Las Vegas mortgage lenders restrict property purchases by foreign nationals to one vacation/second home with a down paymen...

Renter Turns Into Happy Homeowner and Saves Money

by Lisa Alberian When my family decided to move to Las Vegas, we rented a house in a nice neighborhood. Since we didn’t know much about the area, we relied on our real estate agent’s knowledge to help us make decisions in addition to a lot of our own research. We were very fortunate to find a nice rental house in H...

3D Tour of a Great Las Vegas Home - 536 Calahonda Court Las Vegas, Nevada

Enjoy this 3D Tour of 536 Calhonda Court, a Great Las Vegas Home for sale. Contact us to get more information....

Leave a Comment

Have a Question?

Contact Us

Follow Us