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 Mastura Zaini-Roberts 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

Your Client Centric Las Vegas Realtor - Nadia Hasso-Bradley

In every Las Vegas Real Estate transaction, a relationship is built. I had the pleasure of having many great client relationships. However, one example was reaching out to a seller with an expired listing. Which means that it failed to sell within the contracted timeline. I reached out to this client about 2 years ago,...

Take Our Favorite Neighborhood Poll!

We are often asked what are the most popular neighborhoods in Las Vegas or Henderson. Let's find out and ask the residents! Choose your favorite neighborhood from the list below and cast your vote for the best community in Las Vegas. If you don't see your favorite listed, feel free to post in the comment section below....

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...

December 2017 Greater Las Vegas Real Estate Market Overview

October 2017 Single Family Residential (SFR) closed sales were down 12.8% from October and down 4.6% compared to November 2016. Year to date 2017 closed sales are still up nearly 9% over 2016. The median closed sales price of a SFR dipped to $261,400 while the average closed sales price of an SFR dropped to $312,465...

Great North Las Vegas Home - 2321 Coral Mist

Check out this beautiful North Las Vegas home conveniently located near Aliante. Take a Virtual Tour  ...

Leave a Comment

Have a Question?

Contact Us

Follow Us